Beam Global’s (BEEM) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Beam Global (NASDAQ:BEEM) in a report issued on Thursday, Benzinga reports. They currently have a $30.00 price target on the stock.

Beam Global Stock Up 3.2 %

Shares of BEEM stock opened at $6.40 on Thursday. The stock has a 50 day simple moving average of $6.79 and a 200-day simple moving average of $6.49. Beam Global has a 1-year low of $5.00 and a 1-year high of $13.66.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Beam Global by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,011 shares of the company’s stock worth $471,000 after buying an additional 1,205 shares during the period. Citigroup Inc. raised its stake in shares of Beam Global by 56.6% during the 1st quarter. Citigroup Inc. now owns 5,171 shares of the company’s stock worth $106,000 after buying an additional 1,869 shares during the period. FMR LLC raised its stake in shares of Beam Global by 67.4% during the 3rd quarter. FMR LLC now owns 4,747 shares of the company’s stock worth $35,000 after buying an additional 1,912 shares during the period. BlackRock Inc. increased its position in shares of Beam Global by 1.3% during the first quarter. BlackRock Inc. now owns 160,651 shares of the company’s stock worth $2,556,000 after purchasing an additional 2,113 shares in the last quarter. Finally, Pathstone Family Office LLC increased its position in shares of Beam Global by 13.9% during the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock worth $139,000 after purchasing an additional 2,305 shares in the last quarter. 26.59% of the stock is owned by institutional investors and hedge funds.

Beam Global Company Profile

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized infrastructure products for electric vehicle (EV) charging infrastructure, energy storage, energy security, disaster preparedness, and outdoor media advertising. The company's product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs.