Beam Global (NASDAQ:BEEM) Raised to “Sell” at Wall Street Zen

Beam Global (NASDAQ:BEEM) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Monday.

Several other brokerages have also recently weighed in on BEEM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beam Global in a research report on Friday, May 22nd. Freedom Capital downgraded shares of Beam Global from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Beam Global Price Performance

Shares of NASDAQ:BEEM opened at $1.31 on Monday. The firm has a market cap of $29.08 million, a P/E ratio of -1.36 and a beta of 1.40. Beam Global has a 52-week low of $1.28 and a 52-week high of $4.04. The business’s 50 day simple moving average is $1.60 and its two-hundred day simple moving average is $1.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.67 and a current ratio of 1.47.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Friday, May 15th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). The firm had revenue of $3.13 million for the quarter, compared to analyst estimates of $7.33 million. Beam Global had a negative return on equity of 73.50% and a negative net margin of 73.22%. As a group, research analysts forecast that Beam Global will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of Beam Global during the 1st quarter valued at $26,000. Virtue Capital Management LLC boosted its holdings in shares of Beam Global by 1,339.7% in the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $81,000 after purchasing an additional 46,527 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Beam Global during the 4th quarter valued at about $61,000. State Street Corp raised its holdings in shares of Beam Global by 17.6% during the 4th quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after buying an additional 8,700 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Beam Global by 268.0% in the 4th quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $186,000 after buying an additional 90,300 shares during the last quarter. 26.59% of the stock is currently owned by institutional investors.

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.