Needham & Company LLC Reiterates Hold Rating for Beam Global (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

Separately, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Beam Global in a research note on Thursday.

Beam Global Trading Down 4.1 %

NASDAQ BEEM opened at $6.14 on Thursday. The business’s 50 day moving average is $6.77 and its two-hundred day moving average is $6.49. The stock has a market capitalization of $88.66 million, a price-to-earnings ratio of -4.18 and a beta of 0.82. Beam Global has a 12-month low of $5.00 and a 12-month high of $13.66.

Institutional Investors Weigh In On Beam Global

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Beam Global by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,011 shares of the company’s stock worth $471,000 after acquiring an additional 1,205 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Beam Global by 56.6% during the 1st quarter. Citigroup Inc. now owns 5,171 shares of the company’s stock worth $106,000 after acquiring an additional 1,869 shares in the last quarter. FMR LLC lifted its stake in Beam Global by 67.4% in the 3rd quarter. FMR LLC now owns 4,747 shares of the company’s stock valued at $35,000 after buying an additional 1,912 shares in the last quarter. BlackRock Inc. lifted its stake in Beam Global by 1.3% in the 1st quarter. BlackRock Inc. now owns 160,651 shares of the company’s stock valued at $2,556,000 after buying an additional 2,113 shares in the last quarter. Finally, Pathstone Family Office LLC lifted its stake in Beam Global by 13.9% in the 3rd 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 in the last quarter. Hedge funds and other 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.