Needham & Company LLC Reiterates Hold Rating for Beam Global (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating restated by Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup restated a “buy” rating on shares of Beam Global in a research note on Tuesday, May 20th. B. Riley decreased their target price 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. Finally, Maxim Group decreased their target price on Beam Global from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $5.33.

Beam Global Trading Down 2.5%

NASDAQ BEEM opened at $2.32 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.84 and a debt-to-equity ratio of 0.01. Beam Global has a 52 week low of $1.33 and a 52 week high of $5.90. The stock has a market capitalization of $35.79 million, a PE ratio of -1.51 and a beta of 1.26. The firm has a 50 day moving average of $1.99 and a two-hundred day moving average of $1.97.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.01. Beam Global had a negative net margin of 69.33% and a negative return on equity of 32.39%. The company had revenue of $7.08 million during the quarter, compared to analysts’ expectations of $7.25 million. As a group, research analysts expect that Beam Global will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Several institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in Beam Global by 51.6% in the fourth quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock valued at $173,000 after buying an additional 18,628 shares during the last quarter. Virtue Capital Management LLC lifted its stake in Beam Global by 400.0% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $158,000 after buying an additional 40,000 shares during the last quarter. XTX Topco Ltd lifted its stake in Beam Global by 106.0% in the fourth quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock valued at $133,000 after buying an additional 21,548 shares during the last quarter. Shufro Rose & Co. LLC purchased a new stake in Beam Global in the first quarter valued at approximately $31,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Beam Global during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

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.