Beam Global (NASDAQ:BEEM) Earns “Hold” Rating from Needham & Company LLC

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports.

Other analysts have also recently issued reports about the stock. B. Riley reduced their target price on shares of Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Beam Global in a research note on Wednesday, August 14th.

Beam Global Trading Down 9.2 %

Shares of Beam Global stock opened at $3.95 on Monday. Beam Global has a 52 week low of $3.89 and a 52 week high of $8.48. The stock has a market cap of $58.36 million, a PE ratio of -4.07 and a beta of 0.87. The company’s 50-day moving average price is $4.84 and its two-hundred day moving average price is $5.37.

Institutional Trading of Beam Global

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in Beam Global in the 3rd quarter worth about $25,000. Oak Family Advisors LLC lifted its position in shares of Beam Global by 11.0% in the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock worth $241,000 after purchasing an additional 5,181 shares in the last quarter. Green Alpha Advisors LLC boosted its holdings in shares of Beam Global by 16.1% during the third quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock worth $230,000 after purchasing an additional 6,500 shares during the period. XTX Topco Ltd grew its position in Beam Global by 96.3% during the third quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock valued at $100,000 after purchasing an additional 9,975 shares in the last quarter. Finally, Virtue Capital Management LLC acquired a new position in Beam Global in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

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.