Beam Global (NASDAQ:BEEM) Stock Rating Reaffirmed by HC Wainwright

Beam Global (NASDAQ:BEEM)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 388.60% from the company’s current price.

Beam Global Price Performance

Shares of BEEM opened at $6.14 on Thursday. The firm has a market cap of $88.66 million, a P/E ratio of -4.18 and a beta of 0.82. The stock has a 50 day simple moving average of $6.77 and a two-hundred 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 Trading of Beam Global

A number of institutional investors have recently made changes to their positions in BEEM. FMR LLC boosted its stake in shares of Beam Global by 2,800.0% during the first quarter. FMR LLC now owns 2,001 shares of the company’s stock valued at $32,000 after purchasing an additional 1,932 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Beam Global by 960.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the company’s stock valued at $40,000 after purchasing an additional 3,534 shares during the period. Quarry LP purchased a new stake in shares of Beam Global during the second quarter valued at approximately $67,000. Virtue Capital Management LLC purchased a new stake in shares of Beam Global during the fourth quarter valued at approximately $71,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of Beam Global during the fourth quarter valued at approximately $75,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

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.