Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 3,367,923 shares, an increase of 208.9% from the December 31st total of 1,090,427 shares. Based on an average daily volume of 6,001,464 shares, the days-to-cover ratio is currently 0.6 days. Approximately 18.7% of the company’s shares are short sold. Approximately 18.7% of the company’s shares are short sold. Based on an average daily volume of 6,001,464 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Beam Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP bought a new stake in shares of Beam Global during the third quarter valued at approximately $102,000. Green Alpha Advisors LLC grew its position in Beam Global by 143.3% in the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after purchasing an additional 27,903 shares during the period. Finally, Vanguard Group Inc. grew its position in Beam Global by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after purchasing an additional 53,640 shares during the period. Institutional investors own 26.59% of the company’s stock.

Beam Global Trading Down 5.3%

NASDAQ:BEEM opened at $1.78 on Thursday. The firm’s fifty day moving average is $1.74 and its 200-day moving average is $2.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.98. Beam Global has a 52 week low of $1.33 and a 52 week high of $4.04. The firm has a market cap of $33.87 million, a P/E ratio of -0.93 and a beta of 1.34.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Friday, November 14th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $5.79 million for the quarter, compared to the consensus estimate of $8.45 million. Beam Global had a negative return on equity of 61.03% and a negative net margin of 105.89%. Equities analysts expect that Beam Global will post -0.67 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Global in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Beam Global has an average rating of “Hold” and an average price target of $4.00.

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.