Beam Global (NASDAQ:BEEM) Trading Up 5.7% – What’s Next?

Beam Global (NASDAQ:BEEM) shares rose 5.7% during mid-day trading on Tuesday . The stock traded as high as $1.50 and last traded at $1.49. Approximately 72,496 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 172,287 shares. The stock had previously closed at $1.41.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup reissued a “buy” rating on shares of Beam Global in a report on Tuesday, May 20th. B. Riley reduced their price target on shares of Beam Global from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, May 20th. Maxim Group lowered their price objective on Beam Global from $5.00 to $4.00 and set a “buy” rating for the company in a report on Monday, May 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Friday, May 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Beam Global Trading Up 5.7%

The stock has a market cap of $22.99 million, a P/E ratio of -0.93 and a beta of 1.42. The firm’s 50 day simple moving average is $1.56 and its two-hundred day simple moving average is $2.21. The company has a quick ratio of 0.92, a current ratio of 1.84 and a debt-to-equity ratio of 0.01.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.16). Beam Global had a negative net margin of 57.83% and a negative return on equity of 25.73%. The business had revenue of $6.32 million during the quarter, compared to analyst estimates of $8.00 million. During the same period last year, the firm posted ($0.21) earnings per share. As a group, equities research analysts predict that Beam Global will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beam Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtue Capital Management LLC lifted its stake in Beam Global by 400.0% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $158,000 after buying an additional 40,000 shares during the last quarter. XTX Topco Ltd grew its position in shares of Beam Global by 106.0% during the fourth quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock worth $133,000 after acquiring an additional 21,548 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Beam Global by 51.6% in the 4th quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock worth $173,000 after acquiring an additional 18,628 shares during the period. Shufro Rose & Co. LLC bought a new stake in Beam Global in the 1st quarter valued at about $31,000. Finally, Dimensional Fund Advisors LP acquired a new position in Beam Global during the 4th quarter valued at about $39,000. 26.59% of the stock is currently owned by institutional investors and hedge funds.

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.