Beam Global (NASDAQ:BEEM) Trading Down 1% – Time to Sell?

Beam Global (NASDAQ:BEEM) shares traded down 1% on Tuesday . The company traded as low as $1.00 and last traded at $1.04. Approximately 284,849 shares traded hands during trading, a decline of 53% from the average session volume of 602,032 shares. The stock had previously closed at $1.05.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BEEM shares. Wall Street Zen raised Beam Global from a “strong sell” rating to a “sell” rating in a report on Monday, June 8th. Freedom Capital upgraded Beam Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Weiss Ratings raised Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Beam Global Price Performance

The firm has a market capitalization of $23.09 million, a price-to-earnings ratio of -1.08 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 1.47 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $1.25 and its two-hundred day moving average price is $1.48.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings data 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 net margin of 73.22% and a negative return on equity of 73.50%. The business had revenue of $3.13 million for the quarter, compared to the consensus estimate of $7.33 million. Analysts anticipate that Beam Global will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Beam Global

Several hedge funds have recently bought and sold shares of the business. R Squared Ltd bought a new position in shares of Beam Global in the first quarter valued at approximately $26,000. Quadrature Capital Ltd bought a new stake in shares of Beam Global during the 4th quarter worth $61,000. Virtue Capital Management LLC grew its stake in Beam Global by 1,339.7% in the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after buying an additional 46,527 shares during the last quarter. State Street Corp raised its holdings in Beam Global by 17.6% in the 4th quarter. State Street Corp now owns 58,228 shares of the company’s stock worth $87,000 after acquiring an additional 8,700 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Beam Global in the third quarter worth about $102,000. 26.59% of the stock is owned by institutional investors and hedge funds.

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.