Beam Global (NASDAQ:BEEM) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Beam Global (NASDAQ:BEEM) posted its quarterly earnings data on Wednesday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06, FiscalAI reports. Beam Global had a negative net margin of 73.22% and a negative return on equity of 73.50%. The business had revenue of $8.56 million for the quarter, compared to analyst estimates of $8.19 million.

Beam Global Trading Up 5.2%

Shares of NASDAQ:BEEM traded up $0.06 during midday trading on Wednesday, reaching $1.21. The company had a trading volume of 5,002,175 shares, compared to its average volume of 1,262,625. The company has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.42. The firm has a market cap of $26.86 million, a price-to-earnings ratio of -1.26 and a beta of 1.43. Beam Global has a 1-year low of $0.97 and a 1-year high of $4.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.67 and a current ratio of 1.47.

Institutional Trading of Beam Global

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Beam Global by 268.0% during the fourth quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $186,000 after buying an additional 90,300 shares during the period. Vanguard Group Inc. boosted its position in Beam Global by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock worth $1,903,000 after acquiring an additional 53,640 shares during the period. Virtue Capital Management LLC grew its stake in Beam Global by 1,339.7% during the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after acquiring an additional 46,527 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Beam Global during the 4th quarter valued at about $61,000. Finally, Two Sigma Investments LP acquired a new position in shares of Beam Global in the 3rd quarter valued at about $102,000. 26.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BEEM has been the subject of a number of research reports. Freedom Capital raised Beam Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Zacks Research cut shares of Beam Global from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Beam Global from a “sell” rating to a “strong sell” rating in a research report on Sunday. Finally, Weiss Ratings lowered shares of Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.