Beam Global (NASDAQ:BEEM) Shares Down 1% – Time to Sell?

Shares of Beam Global (NASDAQ:BEEM) traded down 1% during trading on Tuesday . The stock traded as low as $1.00 and last traded at $1.04. 284,849 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 602,032 shares. The stock had previously closed at $1.05.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BEEM shares. Weiss Ratings upgraded shares of Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of Beam Global from a “strong sell” rating to a “sell” rating in a report on Monday, June 8th. Finally, Freedom Capital upgraded shares of Beam Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Beam Global Stock Down 1.0%

The firm has a market capitalization of $23.09 million, a PE ratio of -1.08 and a beta of 1.42. The company has a fifty day moving average price of $1.26 and a 200-day moving average price of $1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.67 and a current ratio of 1.47.

Beam Global (NASDAQ:BEEM) last posted its earnings results on Friday, May 15th. The company reported ($0.33) earnings per share 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 during the quarter, compared to analysts’ expectations of $7.33 million. As a group, analysts expect that Beam Global will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Beam Global

Several institutional investors have recently bought and sold shares of BEEM. R Squared Ltd purchased a new position in shares of Beam Global in the 1st quarter worth $26,000. Quadrature Capital Ltd purchased a new stake in shares of Beam Global during the 4th quarter valued at about $61,000. Virtue Capital Management LLC raised its position in shares of Beam Global by 1,339.7% during the 4th 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 in the last quarter. State Street Corp lifted its holdings in shares of Beam Global by 17.6% in the 4th 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 during the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Beam Global in the 3rd quarter valued at about $102,000. 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.