Beam Global (NASDAQ:BEEM) Upgraded to Strong-Buy by B. Riley

Beam Global (NASDAQ:BEEM) was upgraded by B. Riley to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

A number of other analysts have also commented on BEEM. Roth Mkm reiterated a “buy” rating and issued a $9.00 price target on shares of Beam Global in a research note on Tuesday, April 23rd. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research report on Wednesday, May 22nd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Beam Global in a research report on Wednesday, May 22nd.

Beam Global Stock Performance

Shares of BEEM stock opened at $4.50 on Tuesday. Beam Global has a one year low of $4.30 and a one year high of $12.57. The company’s 50-day moving average is $5.98 and its 200 day moving average is $6.43. The company has a market capitalization of $65.43 million, a price-to-earnings ratio of -3.46 and a beta of 0.91.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. Beam Global had a negative net margin of 22.16% and a negative return on equity of 30.53%. The company had revenue of $14.56 million for the quarter, compared to the consensus estimate of $17.65 million. As a group, research analysts predict that Beam Global will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beam Global

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC bought a new position in shares of Beam Global in the first quarter worth approximately $284,000. AWM Investment Company Inc. lifted its holdings in shares of Beam Global by 8.4% in the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock worth $6,688,000 after buying an additional 76,301 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Beam Global by 21.0% in the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after buying an additional 107,200 shares in the last quarter. Oak Family Advisors LLC lifted its holdings in shares of Beam Global by 26.7% in the first quarter. Oak Family Advisors LLC now owns 47,107 shares of the company’s stock worth $320,000 after buying an additional 9,921 shares in the last quarter. Finally, PFG Investments LLC lifted its holdings in shares of Beam Global by 97.0% in the first quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after buying an additional 11,348 shares in the last quarter. 26.59% of the stock is currently owned by institutional investors.

Beam Global Company Profile

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.