Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 1,663,790 shares, a drop of 50.6% from the January 15th total of 3,367,923 shares. Based on an average daily volume of 869,750 shares, the days-to-cover ratio is presently 1.9 days. Currently, 9.3% of the company’s stock are sold short. Currently, 9.3% of the company’s stock are sold short. Based on an average daily volume of 869,750 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On Beam Global

Several institutional investors and hedge funds have recently made changes to their positions in BEEM. Vanguard Group Inc. increased its stake in shares of Beam Global by 8.8% in the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock worth $1,903,000 after buying an additional 53,640 shares during the last quarter. Two Sigma Investments LP acquired a new position in Beam Global during the 3rd quarter worth $102,000. T3 Companies LLC acquired a new position in Beam Global during the 4th quarter worth $165,000. Finally, Green Alpha Advisors LLC increased its position in shares of Beam Global by 143.3% in the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock worth $71,000 after purchasing an additional 27,903 shares during the last quarter. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Beam Global Stock Performance

NASDAQ:BEEM opened at $1.45 on Thursday. The firm has a 50-day moving average of $1.69 and a two-hundred day moving average of $2.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.98 and a quick ratio of 0.97. The stock has a market cap of $27.59 million, a P/E ratio of -0.76 and a beta of 1.34. Beam Global has a 1-year low of $1.33 and a 1-year high of $4.04.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Friday, November 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The business had revenue of $5.79 million for the quarter, compared to analysts’ expectations of $8.45 million. Beam Global had a negative return on equity of 61.03% and a negative net margin of 105.89%. On average, research analysts expect that Beam Global will post -0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Global in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.00.

About Beam Global

Beam Global (NASDAQ:BEEM) is a developer of solar-powered infrastructure solutions designed to support the transition to clean energy and electric transportation. Headquartered in California, the company specializes in producing off-grid EV charging units, solar canopy systems and energy storage solutions that can be rapidly deployed in urban, rural and remote environments. By integrating photovoltaic panels with battery storage and charging hardware, Beam Global’s products aim to reduce reliance on grid power and lower carbon emissions at charging locations.

The company’s flagship product, EV ARC, is a standalone, solar-powered electric vehicle fast-charging kiosk that requires no construction, trenching or utility upgrades.