Beam Global (NASDAQ:BEEM) Short Interest Up 14.2% in December

Beam Global (NASDAQ:BEEM) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,210,000 shares, a growth of 14.2% from the December 15th total of 1,060,000 shares. Based on an average daily volume of 217,300 shares, the days-to-cover ratio is presently 5.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Green Alpha Advisors LLC raised its holdings in shares of Beam Global by 28.1% during the fourth quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock valued at $190,000 after purchasing an additional 13,162 shares during the period. XTX Topco Ltd increased its position in Beam Global by 96.3% in the 3rd quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock valued at $100,000 after buying an additional 9,975 shares in the last quarter. Calton & Associates Inc. acquired a new position in Beam Global during the 3rd quarter worth approximately $93,000. Virtue Capital Management LLC bought a new position in Beam Global in the third quarter worth approximately $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in Beam Global in the third quarter valued at approximately $25,000. 26.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BEEM shares. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research report on Monday, November 18th. HC Wainwright cut their price target on shares of Beam Global from $30.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th.

Beam Global Stock Performance

Shares of BEEM opened at $3.03 on Friday. The firm has a market cap of $44.77 million, a PE ratio of -3.12 and a beta of 0.84. Beam Global has a 52-week low of $2.62 and a 52-week high of $8.48. The business’s 50 day moving average price is $3.47 and its two-hundred day moving average price is $4.65.

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.