Short Interest in Beam Global (NASDAQ:BEEM) Decreases By 50.6%

Beam Global (NASDAQ:BEEM) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 1,663,790 shares, a drop of 50.6% from the January 15th total of 3,367,923 shares. Based on an average daily volume of 869,750 shares, the short-interest ratio is currently 1.9 days. Approximately 9.3% of the company’s stock are sold short. Approximately 9.3% of the company’s stock are sold short. Based on an average daily volume of 869,750 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BEEM. Vanguard Group Inc. boosted its position in Beam Global by 8.8% in the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock worth $1,903,000 after purchasing an additional 53,640 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Beam Global in the third quarter worth approximately $102,000. Green Alpha Advisors LLC grew its position in Beam Global by 143.3% during the fourth quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after buying an additional 27,903 shares during the period. T3 Companies LLC purchased a new stake in Beam Global during the fourth quarter valued at approximately $165,000. Finally, Renaissance Technologies LLC raised its position in Beam Global by 268.0% in the fourth quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $186,000 after acquiring an additional 90,300 shares during the period. Institutional investors own 26.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Beam Global in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.00.

Beam Global Price Performance

Shares of NASDAQ BEEM opened at $1.41 on Friday. Beam Global has a twelve month low of $1.33 and a twelve month high of $4.04. The firm has a market cap of $26.83 million, a P/E ratio of -0.74 and a beta of 1.34. The company has a 50 day moving average of $1.68 and a 200 day moving average of $2.23. The company has a quick ratio of 0.97, a current ratio of 1.98 and a debt-to-equity ratio of 0.01.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Friday, November 14th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). Beam Global had a negative net margin of 105.89% and a negative return on equity of 61.03%. The business had revenue of $5.79 million for the quarter, compared to analysts’ expectations of $8.45 million. As a group, research analysts expect that Beam Global will post -0.67 EPS for the current fiscal year.

Beam Global Company Profile

Beam Global (NASDAQ:BEEM) is a developer of solar-powered infrastructure solutions designed to support the transition to clean energy and electric transportation. Headquartered in California, the company specializes in producing off-grid EV charging units, solar canopy systems and energy storage solutions that can be rapidly deployed in urban, rural and remote environments. By integrating photovoltaic panels with battery storage and charging hardware, Beam Global’s products aim to reduce reliance on grid power and lower carbon emissions at charging locations.

The company’s flagship product, EV ARC, is a standalone, solar-powered electric vehicle fast-charging kiosk that requires no construction, trenching or utility upgrades.