Beam Global (NASDAQ:BEEM) Upgraded to Hold at Zacks Research

Beam Global (NASDAQ:BEEM) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

BEEM has been the topic of several other research reports. Freedom Capital upgraded shares of Beam Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Freedom Broker downgraded Beam Global from a “buy” rating to a “hold” rating and set a $1.50 price target for the company. in a report on Tuesday, August 25th. Wall Street Zen lowered Beam Global from a “hold” rating to a “sell” rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings downgraded Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $1.50.

Beam Global Stock Performance

Beam Global stock opened at $1.38 on Monday. Beam Global has a 52-week low of $0.97 and a 52-week high of $4.04. The firm has a 50 day moving average price of $1.23 and a two-hundred day moving average price of $1.40. The firm has a market cap of $31.23 million, a price-to-earnings ratio of -1.68 and a beta of 1.48.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings data on Wednesday, August 19th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. Beam Global had a negative net margin of 64.60% and a negative return on equity of 73.59%. The company had revenue of $8.56 million for the quarter, compared to analyst estimates of $8.19 million. As a group, equities research analysts predict that Beam Global will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Harraden Circle Investments LLC bought a new stake in shares of Beam Global during the second quarter worth about $43,400,000. BlackRock Inc. purchased a new stake in shares of Beam Global during the second quarter valued at approximately $288,000. T3 Companies LLC purchased a new stake in shares of Beam Global during the 4th quarter valued at $165,000. Lineage Point Capital LP purchased a new stake in Beam Global during the second quarter worth about $1,000,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Beam Global during the 2nd quarter worth approximately $562,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

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.