Beam Global (NASDAQ:BEEM) Stock Rating Upgraded by Zacks Research

Beam Global (NASDAQ:BEEM) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

BEEM has been the topic of a number of other research reports. 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 lowered shares of Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 10th. Wall Street Zen cut Beam Global from a “hold” rating to a “sell” rating in a research note on Tuesday, September 1st. Finally, Freedom Broker downgraded Beam Global from a “buy” rating to a “hold” rating and set a $1.50 price target on the stock. in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.50.

Beam Global Stock Performance

NASDAQ:BEEM opened at $1.38 on Monday. The firm has a market cap of $31.23 million, a PE ratio of -1.68 and a beta of 1.48. Beam Global has a fifty-two week low of $0.97 and a fifty-two week high of $4.04. The business has a 50 day moving average price of $1.23 and a 200-day moving average price of $1.40.

Beam Global (NASDAQ:BEEM) last issued 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. Beam Global had a negative net margin of 64.60% and a negative return on equity of 73.59%. The company had revenue of $8.56 million for the quarter, compared to the consensus estimate of $8.19 million. Research analysts predict that Beam Global will post -0.77 EPS for the current year.

Institutional Investors Weigh In On Beam Global

Several institutional investors and hedge funds have recently modified their holdings of BEEM. R Squared Ltd purchased a new position in shares of Beam Global in the 1st quarter valued at approximately $26,000. Green Alpha Advisors LLC bought a new stake in shares of Beam Global during the second quarter valued at approximately $53,000. Readystate Asset Management LP purchased a new stake in Beam Global in the second quarter worth $562,000. Lineage Point Capital LP bought a new position in Beam Global in the second quarter worth $1,000,000. Finally, T3 Companies LLC bought a new position in Beam Global in the fourth quarter worth $165,000. 26.59% of the stock is owned by hedge funds and other institutional investors.

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.