Beam Global (NASDAQ:BEEM) Upgraded to Strong-Buy by B. Riley

B. Riley upgraded shares of Beam Global (NASDAQ:BEEM) to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

Other analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a hold rating on shares of Beam Global in a report on Wednesday, May 22nd. HC Wainwright reiterated a buy rating and set a $30.00 target price on shares of Beam Global in a research report on Wednesday, May 22nd. Finally, Roth Mkm reissued a buy rating and issued a $9.00 price target on shares of Beam Global in a report on Tuesday, April 23rd.

Beam Global Stock Down 0.9 %

BEEM opened at $4.61 on Tuesday. The business has a 50 day moving average price of $5.92 and a two-hundred day moving average price of $6.41. Beam Global has a 52 week low of $4.30 and a 52 week high of $12.57. The company has a market cap of $67.03 million, a PE ratio of -3.55 and a beta of 0.91.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.09. The firm had revenue of $14.56 million during the quarter, compared to the consensus estimate of $17.65 million. Beam Global had a negative return on equity of 30.53% and a negative net margin of 22.16%. As a group, sell-side analysts expect that Beam Global will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Several institutional investors have recently modified their holdings of BEEM. AWM Investment Company Inc. increased its stake in Beam Global by 39.4% in 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. Vanguard Group Inc. grew its holdings in Beam Global by 21.0% in the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after purchasing an additional 107,200 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Beam Global in the first quarter valued at $284,000. Oak Family Advisors LLC acquired a new position in shares of Beam Global during the 4th quarter worth $264,000. Finally, Barclays PLC purchased a new stake in shares of Beam Global in the 3rd quarter worth about $128,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

About Beam Global

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.