Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 991,200 shares, a decrease of 20.1% from the August 15th total of 1,240,000 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average daily volume of 681,200 shares, the short-interest ratio is currently 1.5 days. Based on an average daily volume of 681,200 shares, the short-interest ratio is currently 1.5 days. Currently, 5.7% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Beam Global currently has a consensus rating of “Moderate Buy” and an average target price of $5.33.

Beam Global Stock Performance

Shares of NASDAQ:BEEM opened at $2.74 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.77 and a quick ratio of 0.88. The business’s 50 day moving average price is $2.52 and its 200-day moving average price is $1.99. The firm has a market capitalization of $48.33 million, a PE ratio of -1.78 and a beta of 1.32. Beam Global has a 1 year low of $1.33 and a 1 year high of $5.30.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. The firm had revenue of $7.08 million for the quarter, compared to analyst estimates of $7.25 million. Beam Global had a negative return on equity of 34.97% and a negative net margin of 69.33%. As a group, equities research analysts expect that Beam Global will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beam Global

Large investors have recently modified their holdings of the business. Northern Trust Corp raised its holdings in shares of Beam Global by 51.6% in the 4th 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 period. Shufro Rose & Co. LLC acquired a new stake in shares of Beam Global in the 1st quarter valued at about $31,000. Finally, Virtue Capital Management LLC lifted its position 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 acquiring an additional 40,000 shares during the period. Institutional investors and hedge funds 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.