Beam Global (NASDAQ:BEEM) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Beam Global (NASDAQ:BEEM) from a strong sell rating to a hold rating in a report issued on Monday,Zacks reports.

Other analysts have also recently issued research reports about the stock. Freedom Broker cut shares of Beam Global from a “buy” rating to a “hold” rating and set a $1.50 price target on the stock. in a research note on Tuesday, August 25th. Weiss Ratings lowered Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 10th. Freedom Capital raised Beam Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Finally, Wall Street Zen downgraded Beam Global from a “hold” rating to a “sell” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $1.50.

Beam Global Price Performance

Shares of BEEM opened at $1.38 on Monday. The firm has a market cap of $31.23 million, a P/E ratio of -1.68 and a beta of 1.48. Beam Global has a 1 year low of $0.97 and a 1 year high of $4.04. The company has a 50 day simple moving average of $1.23 and a two-hundred day simple moving average of $1.40.

Beam Global (NASDAQ:BEEM) last released its earnings results on Wednesday, August 19th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.06. The firm had revenue of $8.56 million for the quarter, compared to the consensus estimate of $8.19 million. Beam Global had a negative net margin of 64.60% and a negative return on equity of 73.59%. On average, sell-side analysts anticipate that Beam Global will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Beam Global

Several large investors have recently bought and sold shares of the business. Harraden Circle Investments LLC bought a new position in Beam Global during the second quarter valued at $43,400,000. Lineage Point Capital LP purchased a new stake in shares of Beam Global during the 2nd quarter valued at about $1,000,000. Readystate Asset Management LP bought a new position in shares of Beam Global in the 2nd quarter valued at about $562,000. BlackRock Inc. purchased a new position in Beam Global in the second quarter worth about $288,000. Finally, T3 Companies LLC purchased a new position in Beam Global in the fourth quarter worth about $165,000. Institutional investors own 26.59% of the company’s stock.

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.