Beam Global (NASDAQ:BEEM) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Beam Global (NASDAQ:BEEM) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other research analysts have also weighed in on the company. Freedom Capital upgraded Beam Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Weiss Ratings raised shares of Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 23rd. Finally, Zacks Research cut shares of Beam Global from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Beam Global Stock Performance

BEEM opened at $1.14 on Friday. The firm’s fifty day simple moving average is $1.20 and its two-hundred day simple moving average is $1.45. Beam Global has a 52-week low of $0.97 and a 52-week high of $4.04. The company has a market cap of $25.31 million, a price-to-earnings ratio of -1.19 and a beta of 1.43. The company has a quick ratio of 0.67, a current ratio of 1.47 and a debt-to-equity ratio of 0.01.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.15). Beam Global had a negative return on equity of 73.50% and a negative net margin of 73.22%.The company had revenue of $3.13 million for the quarter, compared to analyst estimates of $7.33 million. Equities analysts anticipate that Beam Global will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Beam Global during the 2nd quarter valued at about $288,000. R Squared Ltd acquired a new stake in Beam Global during the first quarter worth about $26,000. Virtue Capital Management LLC increased its position in Beam Global by 1,339.7% during the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $81,000 after purchasing an additional 46,527 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Beam Global during the fourth quarter worth about $61,000. Finally, State Street Corp raised its stake in Beam Global by 17.6% during the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock worth $87,000 after purchasing an additional 8,700 shares during the period. Institutional investors and hedge funds own 26.59% of the company’s stock.

Beam Global Company Profile

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.