Beam Global (NASDAQ:BEEM) Rating Reiterated by Needham & Company LLC

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Wednesday, Benzinga reports.

Several other analysts have also recently issued reports on BEEM. B. Riley reduced their price objective on Beam Global from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Beam Global in a research report on Wednesday. Finally, Roth Mkm reissued a “buy” rating and issued a $9.00 target price on shares of Beam Global in a research report on Tuesday, April 23rd.

Beam Global Stock Performance

Shares of Beam Global stock opened at $6.29 on Wednesday. The firm has a market capitalization of $91.46 million, a price-to-earnings ratio of -4.84 and a beta of 0.92. Beam Global has a fifty-two week low of $5.00 and a fifty-two week high of $12.82. The stock has a 50 day moving average of $6.35 and a 200 day moving average of $6.46.

Beam Global (NASDAQ:BEEM) last posted its earnings results on Tuesday, April 16th. The company reported ($0.51) earnings per share for the quarter. The company had revenue of $20.03 million during the quarter. Beam Global had a negative net margin of 22.16% and a negative return on equity of 30.53%. Analysts forecast that Beam Global will post -0.84 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC purchased a new stake in shares of Beam Global in the third quarter valued at about $128,000. Jump Financial LLC purchased a new position in Beam Global in the third quarter valued at approximately $130,000. Oak Family Advisors LLC purchased a new stake in shares of Beam Global in the fourth quarter worth about $264,000. AWM Investment Company Inc. grew its holdings in Beam Global by 39.4% during the 3rd quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock valued at $4,372,000 after purchasing an additional 167,363 shares in the last quarter. Finally, Pathstone Family Office LLC lifted 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 worth $139,000 after acquiring an additional 2,305 shares in the last quarter. 26.59% of the stock is currently owned by institutional investors and hedge funds.

Beam Global Company Profile

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and 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 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.