Beam Global (NASDAQ:BEEM) Downgraded by Zacks Research to “Strong Sell”

Beam Global (NASDAQ:BEEM) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on BEEM. Wall Street Zen raised shares of Beam Global from a “strong sell” rating to a “sell” rating in a report on Monday, June 8th. Freedom Capital upgraded Beam Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Finally, Weiss Ratings upgraded Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Beam Global Stock Up 6.3%

Shares of Beam Global stock opened at $1.04 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.47 and a quick ratio of 0.67. Beam Global has a 1 year low of $0.97 and a 1 year high of $4.04. The firm’s 50-day moving average is $1.24 and its two-hundred day moving average is $1.47. The stock has a market cap of $23.09 million, a price-to-earnings ratio of -1.08 and a beta of 1.42.

Beam Global (NASDAQ:BEEM) last posted its earnings results on Friday, May 15th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). Beam Global had a negative net margin of 73.22% and a negative return on equity of 73.50%. The business had revenue of $3.13 million for the quarter, compared to analysts’ expectations of $7.33 million. As a group, research analysts expect that Beam Global will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Beam Global during the 1st quarter valued at approximately $26,000. Quadrature Capital Ltd acquired a new stake in shares of Beam Global during the fourth quarter worth $61,000. Virtue Capital Management LLC grew its holdings in shares of 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 buying an additional 46,527 shares during the last quarter. State Street Corp grew its holdings in shares of Beam Global by 17.6% during the fourth 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 during the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Beam Global in the 3rd quarter valued at $102,000. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Beam Global Company Profile

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.