Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 1,310,000 shares, a decline of 14.4% from the August 15th total of 1,530,000 shares. Based on an average daily volume of 181,900 shares, the short-interest ratio is presently 7.2 days.

Wall Street Analysts Forecast Growth

BEEM has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Beam Global in a research report on Wednesday, August 14th. B. Riley reduced their price objective on shares of Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Beam Global in a report on Wednesday, August 14th.

Institutional Investors Weigh In On Beam Global

A number of institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in Beam Global during the second quarter worth approximately $48,000. Oak Family Advisors LLC increased its holdings in shares of Beam Global by 11.0% in the 2nd quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after acquiring an additional 5,181 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Beam Global during the first quarter valued at about $284,000. Vanguard Group Inc. raised its position in shares of Beam Global by 21.0% during the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after purchasing an additional 107,200 shares during the period. Finally, AWM Investment Company Inc. grew its stake in Beam Global by 8.4% in the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock valued at $6,688,000 after purchasing an additional 76,301 shares in the last quarter. Institutional investors and hedge funds own 26.59% of the company’s stock.

Beam Global Price Performance

Shares of Beam Global stock remained flat at $5.43 during trading hours on Wednesday. The stock had a trading volume of 31,028 shares, compared to its average volume of 136,078. Beam Global has a 1 year low of $4.30 and a 1 year high of $8.48. The stock has a market capitalization of $78.94 million, a PE ratio of -4.18 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.79 and a quick ratio of 1.16. The stock’s 50-day moving average is $5.51 and its two-hundred day moving average is $5.92.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.06. The firm had revenue of $14.81 million during the quarter, compared to analysts’ expectations of $16.30 million. Beam Global had a negative net margin of 25.27% and a negative return on equity of 29.07%. On average, analysts forecast that Beam Global will post -0.86 EPS for the current fiscal year.

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.