Beam Global (NASDAQ:BEEM) Shares Up 5.7% – What’s Next?

Beam Global (NASDAQ:BEEM) shot up 5.7% during mid-day trading on Tuesday . The stock traded as high as $1.50 and last traded at $1.49. 72,496 shares were traded during trading, a decline of 58% from the average session volume of 172,287 shares. The stock had previously closed at $1.41.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Maxim Group dropped their price objective on Beam Global from $5.00 to $4.00 and set a “buy” rating for the company in a report on Monday, May 19th. B. Riley dropped their price target 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. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a report on Friday, May 16th. Finally, Citigroup reiterated a “buy” rating on shares of Beam Global in a report on Tuesday, May 20th. One equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Beam Global Trading Up 5.7%

The stock has a market capitalization of $22.99 million, a PE ratio of -0.93 and a beta of 1.42. The company has a current ratio of 1.84, a quick ratio of 0.92 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average is $1.56 and its two-hundred day moving average is $2.21.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.16). Beam Global had a negative return on equity of 25.73% and a negative net margin of 57.83%. The company had revenue of $6.32 million for the quarter, compared to analyst estimates of $8.00 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. On average, analysts predict that Beam Global will post -0.67 earnings per share for the current year.

Institutional Trading of Beam Global

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new stake in shares of Beam Global during the fourth quarter valued at about $39,000. Northern Trust Corp grew its stake in Beam Global by 51.6% during the 4th quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock valued at $173,000 after purchasing an additional 18,628 shares in the last quarter. XTX Topco Ltd grew its stake in Beam Global by 106.0% during the 4th quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock valued at $133,000 after purchasing an additional 21,548 shares in the last quarter. Virtue Capital Management LLC increased its holdings in Beam Global by 400.0% during the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $158,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Shufro Rose & Co. LLC acquired a new position in shares of Beam Global in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

About Beam Global

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.