Beam Global (NASDAQ:BEEM) Short Interest Down 17.7% in March

Beam Global (NASDAQ:BEEM) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 1,611,671 shares, a decrease of 17.7% from the March 15th total of 1,958,206 shares. Based on an average daily trading volume, of 152,049 shares, the days-to-cover ratio is presently 10.6 days. Currently, 9.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BEEM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Global in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Beam Global from a “strong sell” rating to a “hold” rating in a report on Saturday, April 11th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.00.

Institutional Investors Weigh In On Beam Global

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Beam Global by 8.8% during the third 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 last quarter. Two Sigma Investments LP bought a new stake in shares of Beam Global in the third quarter valued at approximately $102,000. Green Alpha Advisors LLC lifted its stake in shares of Beam Global by 143.3% during the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after buying an additional 27,903 shares in the last quarter. T3 Companies LLC purchased a new stake in shares of Beam Global during the 4th quarter valued at approximately $165,000. Finally, Renaissance Technologies LLC boosted its holdings 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 period. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Beam Global Price Performance

BEEM opened at $1.52 on Friday. Beam Global has a fifty-two week low of $1.33 and a fifty-two week high of $4.04. The firm has a 50-day moving average of $1.50 and a 200 day moving average of $1.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.93 and a current ratio of 1.74. The firm has a market cap of $32.13 million, a P/E ratio of -0.91 and a beta of 1.32.

Beam Global (NASDAQ:BEEM) last released its earnings results on Wednesday, April 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.13. Beam Global had a negative net margin of 95.63% and a negative return on equity of 61.84%. The firm had revenue of $9.05 million for the quarter, compared to analysts’ expectations of $6.17 million. On average, research analysts expect that Beam Global will post -0.67 EPS for the current year.

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.