Beam Global (NASDAQ:BEEM) Given Average Recommendation of “Hold” by Brokerages

Beam Global (NASDAQ:BEEM) has been given a consensus recommendation of “Hold” by the five analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.00.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Global in a report on Wednesday, January 21st.

Institutional Investors Weigh In On Beam Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP acquired a new stake in shares of Beam Global during the 3rd quarter valued at $102,000. Quadrature Capital Ltd purchased a new stake in shares of Beam Global during the fourth quarter worth $61,000. Green Alpha Advisors LLC raised its holdings in shares of Beam Global by 143.3% during the fourth quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock worth $71,000 after acquiring an additional 27,903 shares in the last quarter. Virtue Capital Management LLC boosted its position in Beam Global by 1,339.7% during the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after purchasing an additional 46,527 shares during the last quarter. Finally, State Street Corp grew its stake in Beam Global by 17.6% in the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after purchasing an additional 8,700 shares in the last quarter. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Beam Global Stock Down 7.3%

NASDAQ:BEEM opened at $1.53 on Wednesday. The business’s fifty day moving average price is $1.62 and its 200 day moving average price is $2.15. The firm has a market capitalization of $29.12 million, a price-to-earnings ratio of -0.80 and a beta of 1.33. The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Beam Global has a 1-year low of $1.33 and a 1-year high of $4.04.

About Beam Global

Beam Global (NASDAQ:BEEM) is a developer of solar-powered infrastructure solutions designed to support the transition to clean energy and electric transportation. Headquartered in California, the company specializes in producing off-grid EV charging units, solar canopy systems and energy storage solutions that can be rapidly deployed in urban, rural and remote environments. By integrating photovoltaic panels with battery storage and charging hardware, Beam Global’s products aim to reduce reliance on grid power and lower carbon emissions at charging locations.

The company’s flagship product, EV ARC, is a standalone, solar-powered electric vehicle fast-charging kiosk that requires no construction, trenching or utility upgrades.