Beam Global (NASDAQ:BEEM) Given Consensus Rating of “Hold” by Analysts

Shares of Beam Global (NASDAQ:BEEM) have been assigned a consensus rating of “Hold” from the five analysts that are covering the firm, Marketbeat Ratings reports. One equities research 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 target price among brokerages that have issued ratings on the stock in the last year is $4.00.

Several analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Global in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Beam Global from a “strong sell” rating to a “hold” rating in a research report on Saturday, April 11th.

Beam Global Stock Up 29.6%

Shares of NASDAQ BEEM opened at $1.97 on Thursday. The firm’s 50-day moving average price is $1.51 and its 200-day moving average price is $1.87. The company has a current ratio of 1.74, a quick ratio of 0.93 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $41.65 million, a price-to-earnings ratio of -1.18 and a beta of 1.32. Beam Global has a 12-month low of $1.34 and a 12-month high of $4.04.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Wednesday, April 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.13. The firm had revenue of $9.05 million for the quarter, compared to analysts’ expectations of $6.17 million. Beam Global had a negative net margin of 95.63% and a negative return on equity of 61.84%. On average, equities research analysts anticipate that Beam Global will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Beam Global

Hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in Beam Global during the 4th quarter valued at about $61,000. Green Alpha Advisors LLC grew its holdings in Beam Global by 143.3% during the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after purchasing an additional 27,903 shares during the last quarter. 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 valued at $81,000 after purchasing an additional 46,527 shares during the last quarter. State Street Corp grew its holdings in Beam Global by 17.6% during the 4th quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in Beam Global during the 3rd quarter valued at about $102,000. 26.59% of the stock is currently owned by institutional investors.

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.