Beam Global (NASDAQ:BEEM) Stock Rating Lowered by Zacks Research

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

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

Beam Global Stock Up 6.3%

Shares of NASDAQ:BEEM 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. The stock has a market cap of $23.09 million, a P/E ratio of -1.08 and a beta of 1.42. Beam Global has a 1-year low of $0.97 and a 1-year high of $4.04. The firm has a fifty day moving average price of $1.24 and a 200 day moving average price of $1.47.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.15). The company had revenue of $3.13 million for the quarter, compared to analysts’ expectations of $7.33 million. Beam Global had a negative return on equity of 73.50% and a negative net margin of 73.22%. Sell-side analysts predict that Beam Global will post -0.83 EPS for the current year.

Institutional Trading of Beam Global

Several institutional investors and hedge funds have recently modified their holdings of BEEM. R Squared Ltd purchased a new position in shares of Beam Global during the 1st quarter worth approximately $26,000. Quadrature Capital Ltd purchased a new position in Beam Global during the fourth quarter worth $61,000. Virtue Capital Management LLC raised its holdings in shares of Beam Global by 1,339.7% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $81,000 after acquiring an additional 46,527 shares during the last quarter. State Street Corp lifted its position in shares of 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 acquiring an additional 8,700 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Beam Global during the third quarter valued at $102,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

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.