Beam Global (NASDAQ:BEEM) Rating Increased to Strong-Buy at B. Riley

B. Riley upgraded shares of Beam Global (NASDAQ:BEEM) to a strong-buy rating in a research note released on Tuesday, Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reiterated a hold rating on shares of Beam Global in a research note on Wednesday, May 22nd. HC Wainwright reiterated a buy rating and issued a $30.00 price target on shares of Beam Global in a report on Wednesday, May 22nd. Finally, Roth Mkm restated a buy rating and set a $9.00 price objective on shares of Beam Global in a research note on Tuesday, April 23rd.

Beam Global Stock Down 0.9 %

BEEM opened at $4.61 on Tuesday. Beam Global has a 52 week low of $4.30 and a 52 week high of $12.57. The company has a market capitalization of $67.03 million, a P/E ratio of -3.55 and a beta of 0.91. The stock’s fifty day moving average is $5.92 and its two-hundred day moving average is $6.41.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings results on Monday, May 20th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. Beam Global had a negative return on equity of 30.53% and a negative net margin of 22.16%. The firm had revenue of $14.56 million for the quarter, compared to analyst estimates of $17.65 million. Equities analysts anticipate that Beam Global will post -0.77 earnings per share for the current year.

Hedge Funds Weigh In On Beam Global

Large investors have recently made changes to their positions in the business. Barclays PLC purchased a new position in Beam Global during the 3rd quarter worth $128,000. PFG Investments LLC grew its stake in shares of Beam Global by 97.0% during the first quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after acquiring an additional 11,348 shares during the last quarter. Oak Family Advisors LLC acquired a new position in shares of Beam Global during the fourth quarter valued at about $264,000. Tidal Investments LLC purchased a new position in shares of Beam Global in the 1st quarter valued at approximately $284,000. Finally, Vanguard Group Inc. grew its position in Beam Global by 21.0% during the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after purchasing an additional 107,200 shares during the last quarter. 26.59% of the stock is owned by institutional investors and hedge funds.

Beam Global Company Profile

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and 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 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.