Beam Global (NASDAQ:BEEM) Sees Significant Increase in Short Interest

Beam Global (NASDAQ:BEEM) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,210,000 shares, an increase of 14.2% from the December 15th total of 1,060,000 shares. Based on an average daily volume of 217,300 shares, the short-interest ratio is presently 5.6 days.

Hedge Funds Weigh In On Beam Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd lifted its position in Beam Global by 96.3% in the 3rd quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock valued at $100,000 after acquiring an additional 9,975 shares in the last quarter. Green Alpha Advisors LLC lifted its holdings in shares of Beam Global by 28.1% during the 4th quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock valued at $190,000 after buying an additional 13,162 shares during the period. Calton & Associates Inc. bought a new position in shares of Beam Global during the 3rd quarter valued at $93,000. Virtue Capital Management LLC bought a new position in shares of Beam Global during the 3rd quarter valued at $49,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Beam Global during the 3rd quarter valued at $25,000. 26.59% of the stock is owned by institutional investors.

Beam Global Stock Performance

Shares of BEEM traded down $0.21 during mid-day trading on Friday, reaching $3.03. The company had a trading volume of 236,241 shares, compared to its average volume of 313,074. The firm has a 50-day moving average price of $3.43 and a 200 day moving average price of $4.64. Beam Global has a 52 week low of $2.62 and a 52 week high of $8.48. The company has a market capitalization of $44.75 million, a price-to-earnings ratio of -3.12 and a beta of 0.84.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BEEM shares. HC Wainwright decreased their price objective on Beam Global from $30.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a report on Monday, November 18th.

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.