Beam Global (NASDAQ:BEEM) Short Interest Down 14.4% in August

Beam Global (NASDAQ:BEEM) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,310,000 shares, a decline of 14.4% from the August 15th total of 1,530,000 shares. Based on an average trading volume of 181,900 shares, the short-interest ratio is presently 7.2 days.

Beam Global Stock Performance

NASDAQ:BEEM traded up $0.01 during mid-day trading on Tuesday, hitting $5.37. 8,857 shares of the company traded hands, compared to its average volume of 136,336. The company has a quick ratio of 1.16, a current ratio of 1.79 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $5.55 and its 200-day moving average price is $5.93. The firm has a market cap of $78.06 million, a price-to-earnings ratio of -4.12 and a beta of 0.87. Beam Global has a one year low of $4.30 and a one year high of $8.48.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. Beam Global had a negative return on equity of 29.07% and a negative net margin of 25.27%. The company had revenue of $14.81 million during the quarter, compared to the consensus estimate of $16.30 million. Research analysts anticipate that Beam Global will post -0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on BEEM shares. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Beam Global in a report on Wednesday, August 14th. Finally, B. Riley reduced their target price on shares of Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 14th.

Institutional Trading of Beam Global

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Beam Global by 21.0% during the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after buying an additional 107,200 shares in the last quarter. AWM Investment Company Inc. lifted its position in shares of Beam Global by 8.4% in the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock valued at $6,688,000 after acquiring an additional 76,301 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Beam Global in the first quarter worth about $284,000. XTX Topco Ltd purchased a new stake in shares of Beam Global during the second quarter worth about $48,000. Finally, Oak Family Advisors LLC raised its stake in Beam Global by 26.7% during the 1st quarter. Oak Family Advisors LLC now owns 47,107 shares of the company’s stock valued at $320,000 after purchasing an additional 9,921 shares during the period. 26.59% of the stock is owned by hedge funds and other institutional investors.

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.