Beam Global (NASDAQ:BEEM) Stock Price Down 6.6% – What’s Next?

Shares of Beam Global (NASDAQ:BEEM) traded down 6.6% during mid-day trading on Monday . The stock traded as low as $3.02 and last traded at $3.12. Approximately 233,997 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 270,214 shares. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BEEM. Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a research report on Monday, November 18th. HC Wainwright dropped their target price on shares of Beam Global from $30.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th.

Beam Global Stock Down 6.6 %

The company has a 50 day moving average price of $3.58 and a 200-day moving average price of $4.68. The company has a market cap of $46.09 million, a price-to-earnings ratio of -3.22 and a beta of 0.84.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd increased its position in Beam Global by 96.3% during the 3rd 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 during the period. Green Alpha Advisors LLC lifted its stake in shares of Beam Global by 16.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock valued at $230,000 after purchasing an additional 6,500 shares during the period. Virtue Capital Management LLC acquired a new stake in Beam Global during the third quarter worth approximately $49,000. Calton & Associates Inc. bought a new position in shares of Beam Global during the 3rd quarter worth approximately $93,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Beam Global during the 3rd quarter worth approximately $25,000. 26.59% of the stock is owned by institutional investors.

About Beam Global

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.