Beam Global (NASDAQ:BEEM) Shares Up 1.3%

Beam Global (NASDAQ:BEEM)’s share price shot up 1.3% on Thursday . The company traded as high as $5.30 and last traded at $5.27. 37,725 shares changed hands during trading, a decline of 73% from the average session volume of 137,888 shares. The stock had previously closed at $5.20.

Analyst Ratings Changes

A number of research firms have weighed in on BEEM. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a report on Wednesday, August 14th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Beam Global in a report on Wednesday, August 14th. Finally, B. Riley reduced their price target on Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th.

Beam Global Stock Performance

The firm has a market capitalization of $76.90 million, a price-to-earnings ratio of -4.07 and a beta of 0.87. The company has a quick ratio of 1.16, a current ratio of 1.79 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $5.58 and a 200-day moving average price of $5.95.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.06. Beam Global had a negative return on equity of 29.07% and a negative net margin of 25.27%. The firm had revenue of $14.81 million during the quarter, compared to analysts’ expectations of $16.30 million. As a group, sell-side analysts forecast that Beam Global will post -0.86 earnings per share for the current year.

Institutional Trading of Beam Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of Beam Global during the 2nd quarter valued at about $48,000. Oak Family Advisors LLC lifted its holdings in Beam Global by 11.0% in the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after acquiring an additional 5,181 shares during the period. Tidal Investments LLC purchased a new stake in Beam Global in the 1st quarter worth approximately $284,000. Vanguard Group Inc. grew its stake in shares of 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 period. Finally, AWM Investment Company Inc. grew its stake in shares of 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 purchasing an additional 76,301 shares during the period. Institutional investors and hedge funds own 26.59% of the company’s stock.

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.