Beam Global (NASDAQ:BEEM) Upgraded at Wall Street Zen

Beam Global (NASDAQ:BEEM) was upgraded by Wall Street Zen from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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

Beam Global Stock Down 7.1%

NASDAQ BEEM opened at $1.52 on Friday. The business has a fifty day moving average price of $1.50 and a 200 day moving average price of $1.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.98. The company has a market cap of $28.83 million, a P/E ratio of -0.91 and a beta of 1.32. Beam Global has a one year low of $1.33 and a one year high of $4.04.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings results on Wednesday, April 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.13. Beam Global had a negative net margin of 105.89% and a negative return on equity of 61.03%. The firm had revenue of $9.05 million for the quarter, compared to analyst estimates of $6.17 million. Research analysts anticipate that Beam Global will post -0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. T3 Companies LLC acquired a new stake in Beam Global during the 4th quarter worth approximately $165,000. Renaissance Technologies LLC raised its position in Beam Global by 268.0% in the 4th quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $186,000 after purchasing an additional 90,300 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Beam Global by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after buying an additional 53,640 shares during the period. Virtue Capital Management LLC grew its holdings in Beam Global by 1,339.7% during the 4th 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, Quadrature Capital Ltd acquired a new stake in shares of Beam Global in the 4th quarter valued at $61,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

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.