Beam Global to Post Q1 2024 Earnings of ($0.25) Per Share, B. Riley Forecasts (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM) – Research analysts at B. Riley issued their Q1 2024 earnings per share estimates for Beam Global in a report issued on Thursday, April 18th. B. Riley analyst C. Souther anticipates that the company will post earnings per share of ($0.25) for the quarter. B. Riley has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Beam Global’s current full-year earnings is ($0.50) per share. B. Riley also issued estimates for Beam Global’s Q2 2024 earnings at ($0.18) EPS, Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.58) EPS and FY2025 earnings at $0.71 EPS.

Several other brokerages also recently issued reports on BEEM. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Beam Global in a report on Thursday, April 18th. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Thursday, April 18th.

Beam Global Trading Down 3.4 %

Shares of NASDAQ BEEM opened at $5.93 on Monday. The company has a market capitalization of $85.63 million, a P/E ratio of -4.03 and a beta of 0.82. Beam Global has a 12 month low of $5.00 and a 12 month high of $13.66. The stock has a 50 day moving average of $6.74 and a 200-day moving average of $6.47.

Hedge Funds Weigh In On Beam Global

A number of large investors have recently made changes to their positions in BEEM. PFG Investments LLC raised its stake in Beam Global by 97.0% in the 1st quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after purchasing an additional 11,348 shares in the last quarter. Oak Family Advisors LLC acquired a new stake in shares of Beam Global in the fourth quarter valued at approximately $264,000. AWM Investment Company Inc. boosted its stake in shares of Beam Global by 39.4% in the third quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock valued at $4,372,000 after buying an additional 167,363 shares during the period. Pathstone Family Office LLC boosted its stake in shares of Beam Global by 13.9% in the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock valued at $139,000 after buying an additional 2,305 shares during the period. Finally, Barclays PLC acquired a new stake in Beam Global during the third quarter worth approximately $128,000. Institutional investors own 26.59% of the company’s stock.

About Beam Global

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.