FY2024 EPS Estimates for Beam Global (NASDAQ:BEEM) Boosted by B. Riley

Beam Global (NASDAQ:BEEMGet Rating) – Equities researchers at B. Riley raised their FY2024 earnings estimates for shares of Beam Global in a research report issued to clients and investors on Tuesday, November 22nd. B. Riley analyst C. Souther now anticipates that the company will earn $0.92 per share for the year, up from their previous forecast of $0.75. The consensus estimate for Beam Global’s current full-year earnings is ($1.62) per share.

Beam Global (NASDAQ:BEEMGet Rating) last released its earnings results on Thursday, November 10th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.43). The company had revenue of $6.61 million for the quarter, compared to analyst estimates of $4.48 million. Beam Global had a negative net margin of 78.95% and a negative return on equity of 42.77%.

Several other brokerages have also issued reports on BEEM. Maxim Group reissued a “buy” rating and issued a $40.00 price target on shares of Beam Global in a report on Friday, November 11th. Cowen lowered their price target on shares of Beam Global to $15.00 in a report on Wednesday, November 16th. Finally, HC Wainwright raised shares of Beam Global from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, November 14th.

Beam Global Price Performance

NASDAQ:BEEM opened at $17.34 on Wednesday. The stock has a market cap of $175.13 million, a P/E ratio of -12.30 and a beta of 0.39. The company has a fifty day moving average price of $12.97 and a 200 day moving average price of $14.20. Beam Global has a one year low of $8.90 and a one year high of $28.20.

Institutional Investors Weigh In On Beam Global

Large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Beam Global in the 3rd quarter worth about $25,000. Wolff Wiese Magana LLC bought a new stake in Beam Global during the 2nd quarter worth about $28,000. Amalgamated Bank bought a new stake in Beam Global during the 1st quarter worth about $28,000. Newbridge Financial Services Group Inc. bought a new stake in Beam Global during the 2nd quarter worth about $31,000. Finally, Citigroup Inc. grew its holdings in Beam Global by 56.6% during the 1st quarter. Citigroup Inc. now owns 5,171 shares of the company’s stock worth $106,000 after acquiring an additional 1,869 shares during the last quarter. Institutional investors own 24.70% of the company’s stock.

Insider Transactions at Beam Global

In other news, major shareholder Townsend Battery Partners, Llc sold 10,176 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $16.32, for a total value of $166,072.32. Following the sale, the insider now owns 1,005,000 shares of the company’s stock, valued at approximately $16,401,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 22,551 shares of company stock valued at $328,861. 2.64% of the stock is owned by insiders.

About Beam Global

(Get Rating)

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized products for electric vehicle (EV) charging infrastructure, outdoor media and branding, and energy security products. The company's product portfolio include 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.

See Also

Earnings History and Estimates for Beam Global (NASDAQ:BEEM)

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