Beam Global (NASDAQ:BEEM) Receives $5.33 Average Target Price from Brokerages

Beam Global (NASDAQ:BEEM) has been given an average rating of “Moderate Buy” by the five brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.3333.

BEEM has been the subject of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of Beam Global in a report on Tuesday, May 20th. Maxim Group lowered 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. B. Riley decreased their price objective on shares of Beam Global from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, May 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Beam Global in a research report on Friday, August 15th.

Institutional Investors Weigh In On Beam Global

A number of institutional investors have recently made changes to their positions in the company. Shufro Rose & Co. LLC bought a new position in shares of Beam Global in the 1st quarter worth about $31,000. Dimensional Fund Advisors LP bought a new position in Beam Global during the 4th quarter worth $39,000. Virtue Capital Management LLC increased its position in Beam Global by 400.0% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $158,000 after buying an additional 40,000 shares during the period. Finally, Northern Trust Corp grew its position in shares of Beam Global by 51.6% during the fourth quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock worth $173,000 after acquiring an additional 18,628 shares during the last quarter. 26.59% of the stock is currently owned by institutional investors.

Beam Global Trading Down 1.7%

NASDAQ:BEEM opened at $2.35 on Wednesday. Beam Global has a 1 year low of $1.33 and a 1 year high of $5.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.88 and a current ratio of 1.77. The stock has a fifty day moving average price of $2.42 and a two-hundred day moving average price of $1.98. The stock has a market capitalization of $41.45 million, a price-to-earnings ratio of -1.53 and a beta of 1.32.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.01. The firm had revenue of $7.08 million during the quarter, compared to analysts’ expectations of $7.25 million. Beam Global had a negative net margin of 69.33% and a negative return on equity of 34.97%. As a group, sell-side analysts anticipate that Beam Global will post -0.67 earnings per share for the current fiscal year.

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.