Beam Global’s (BEEM) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Beam Global (NASDAQ:BEEM) in a report published on Wednesday morning, Benzinga reports.

BEEM has been the subject of several other research reports. B. Riley raised Beam Global to a strong-buy rating in a research note on Tuesday, June 25th. Roth Mkm reaffirmed a buy rating and set a $9.00 target price on shares of Beam Global in a research note on Tuesday, April 23rd. Finally, HC Wainwright reaffirmed a buy rating and set a $30.00 target price on shares of Beam Global in a research note on Wednesday.

Beam Global Stock Performance

Shares of BEEM opened at $5.27 on Wednesday. The firm has a market capitalization of $76.61 million, a price-to-earnings ratio of -4.05 and a beta of 0.93. Beam Global has a one year low of $4.30 and a one year high of $10.25. The stock’s fifty day moving average is $5.68 and its 200-day moving average is $6.29.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The company had revenue of $14.56 million for the quarter, compared to analyst estimates of $17.65 million. Beam Global had a negative return on equity of 30.53% and a negative net margin of 22.16%. Analysts forecast that Beam Global will post -0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Beam Global

A number of hedge funds and other institutional investors have recently modified their holdings of BEEM. PFG Investments LLC boosted its position in Beam Global by 97.0% during the 1st 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 period. Oak Family Advisors LLC boosted its position in Beam Global by 26.7% during the 1st quarter. Oak Family Advisors LLC now owns 47,107 shares of the company’s stock worth $320,000 after acquiring an additional 9,921 shares during the period. Vanguard Group Inc. boosted 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 acquiring an additional 107,200 shares during the period. AWM Investment Company Inc. boosted its position in Beam Global by 8.4% during the 1st quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock worth $6,688,000 after acquiring an additional 76,301 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Beam Global during the 1st quarter worth about $284,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

About Beam Global

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.