Beam Global (NASDAQ:BEEM) PT Lowered to $15.00 at B. Riley

Beam Global (NASDAQ:BEEM) had its price objective decreased by research analysts at B. Riley from $18.00 to $15.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price indicates a potential upside of 144.30% from the company’s previous close.

BEEM has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Beam Global in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a report on Thursday.

Beam Global Trading Down 4.1 %

Shares of BEEM stock opened at $6.14 on Thursday. Beam Global has a 12 month low of $5.00 and a 12 month high of $13.66. The stock has a market cap of $88.66 million, a PE ratio of -4.18 and a beta of 0.82. The company’s fifty day moving average price is $6.77 and its 200-day moving average price is $6.49.

Hedge Funds Weigh In On Beam Global

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Beam Global by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 511,476 shares of the company’s stock worth $3,626,000 after purchasing an additional 46,130 shares during the last quarter. Virtue Capital Management LLC purchased a new position in shares of Beam Global in the 4th quarter worth about $71,000. OLD Mission Capital LLC purchased a new position in shares of Beam Global in the 4th quarter worth about $75,000. Pathstone Holdings LLC purchased a new position in shares of Beam Global in the 4th quarter worth about $186,000. Finally, Northern Trust Corp raised its position in shares of Beam Global by 51.2% in the 4th quarter. Northern Trust Corp now owns 40,254 shares of the company’s stock worth $285,000 after purchasing an additional 13,630 shares during the last quarter. Hedge funds and other institutional investors own 26.59% of the company’s stock.

About Beam Global

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized infrastructure products for electric vehicle (EV) charging infrastructure, energy storage, energy security, disaster preparedness, and outdoor media advertising. The company's product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide 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 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs.