Beam Global (NASDAQ:BEEM) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Beam Global (NASDAQ:BEEM) from a strong sell rating to a hold rating in a research note released on Monday.

Several other research firms have also recently weighed in on BEEM. Freedom Capital raised shares of Beam Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Weiss Ratings cut Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Finally, Zacks Research cut Beam Global from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Beam Global Stock Down 8.9%

Shares of BEEM opened at $1.43 on Monday. The business’s 50-day moving average price is $1.18 and its 200-day moving average price is $1.41. Beam Global has a twelve month low of $0.97 and a twelve month high of $4.04. The stock has a market cap of $32.36 million, a PE ratio of -1.74 and a beta of 1.43.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings results on Wednesday, August 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Analysts expect that Beam Global will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of Beam Global

Several hedge funds and other institutional investors have recently bought and sold shares of BEEM. State Street Corp increased its holdings in shares of Beam Global by 17.6% in the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock worth $87,000 after buying an additional 8,700 shares during the period. R Squared Ltd purchased a new position in Beam Global in the 1st quarter worth approximately $26,000. Two Sigma Investments LP purchased a new position in Beam Global in the 3rd quarter worth approximately $102,000. Green Alpha Advisors LLC bought a new stake in Beam Global in the second quarter valued at approximately $53,000. Finally, Quadrature Capital Ltd bought a new stake in Beam Global in the fourth quarter valued at approximately $61,000. Hedge funds and other 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.