Beam Global (NASDAQ:BEEM) Receives Average Recommendation of “Hold” from Analysts

Shares of Beam Global (NASDAQ:BEEM) have received a consensus rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $4.00.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Beam Global in a report on Wednesday, January 21st.

Institutional Investors Weigh In On Beam Global

Hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new position in Beam Global in the 3rd quarter worth about $102,000. Quadrature Capital Ltd purchased a new stake in Beam Global during the fourth quarter valued at about $61,000. Green Alpha Advisors LLC boosted its holdings in shares of Beam Global by 143.3% in the fourth quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock worth $71,000 after buying an additional 27,903 shares during the period. Virtue Capital Management LLC increased its position in shares of Beam Global by 1,339.7% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $81,000 after acquiring an additional 46,527 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Beam Global by 17.6% during the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after acquiring an additional 8,700 shares during the period. 26.59% of the stock is owned by hedge funds and other institutional investors.

Beam Global Trading Down 7.3%

Shares of NASDAQ:BEEM opened at $1.53 on Wednesday. The company has a 50 day moving average of $1.62 and a 200-day moving average of $2.15. The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $29.12 million, a P/E ratio of -0.80 and a beta of 1.33. Beam Global has a twelve month low of $1.33 and a twelve month high of $4.04.

About Beam Global

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.