Northern Trust Corp Buys 18,628 Shares of Beam Global (NASDAQ:BEEM)

Northern Trust Corp grew its position in Beam Global (NASDAQ:BEEM) by 51.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,723 shares of the company’s stock after buying an additional 18,628 shares during the quarter. Northern Trust Corp owned 0.37% of Beam Global worth $173,000 at the end of the most recent reporting period.

Separately, Dimensional Fund Advisors LP purchased a new stake in Beam Global in the fourth quarter worth about $39,000. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Beam Global Stock Performance

Shares of NASDAQ BEEM opened at $1.57 on Tuesday. The stock’s 50-day simple moving average is $1.66 and its 200-day simple moving average is $2.45. The firm has a market capitalization of $24.22 million, a PE ratio of -1.62 and a beta of 1.37. Beam Global has a fifty-two week low of $1.33 and a fifty-two week high of $7.68.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.16). The firm had revenue of $6.32 million for the quarter, compared to analysts’ expectations of $8.00 million. Beam Global had a negative return on equity of 19.09% and a negative net margin of 19.26%. During the same period in the prior year, the company earned ($0.21) earnings per share. On average, sell-side analysts forecast that Beam Global will post -0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on BEEM shares. Citigroup restated a “buy” rating on shares of Beam Global in a report on Tuesday, May 20th. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Friday, May 16th. Maxim Group dropped their price target on Beam Global from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, May 19th. Finally, B. Riley reduced their price objective on Beam Global from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.33.

Beam Global Company Profile

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.