Beam Global (NASDAQ:BEEM) PT Lowered to $15.00 at B. Riley

Beam Global (NASDAQ:BEEM - Get Free Report) had its target price reduced by research analysts at B. Riley from $18.00 to $15.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley's price target points to a potential upside of 134.38% from the company's previous close.

Other research analysts have also issued research reports about the company. Needham & Company LLC reiterated a "hold" rating on shares of Beam Global in a report on Thursday. HC Wainwright reissued a "buy" rating and issued a $30.00 price objective on shares of Beam Global in a research note on Thursday.

Beam Global Stock Up 3.2 %

NASDAQ:BEEM traded up $0.20 on Thursday, hitting $6.40. The stock had a trading volume of 154,461 shares, compared to its average volume of 113,840. The business's fifty day moving average is $6.81 and its 200 day moving average is $6.50. The company has a market cap of $91.07 million, a PE ratio of -4.53 and a beta of 0.82. Beam Global has a 52 week low of $5.00 and a 52 week high of $13.66.

Institutional Trading of Beam Global

Several institutional investors and hedge funds have recently modified their holdings of BEEM. Charles Schwab Investment Management Inc. increased its position in shares of Beam Global by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,011 shares of the company's stock valued at $471,000 after acquiring an additional 1,205 shares during the last quarter. Citigroup Inc. increased its position in shares of Beam Global by 56.6% during the first quarter. Citigroup Inc. now owns 5,171 shares of the company's stock valued at $106,000 after acquiring an additional 1,869 shares during the last quarter. FMR LLC increased its position in shares of Beam Global by 67.4% during the third quarter. FMR LLC now owns 4,747 shares of the company's stock valued at $35,000 after acquiring an additional 1,912 shares during the last quarter. BlackRock Inc. increased its position in shares of Beam Global by 1.3% during the first quarter. BlackRock Inc. now owns 160,651 shares of the company's stock valued at $2,556,000 after acquiring an additional 2,113 shares during the last quarter. Finally, Pathstone Family Office LLC increased its position in shares of Beam Global by 13.9% during the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company's stock valued at $139,000 after acquiring an additional 2,305 shares during the last quarter. 26.59% of the stock is owned by hedge funds and other institutional investors.

Beam Global Company Profile

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized infrastructure products for electric vehicle (EV) charging infrastructure, energy storage, energy security, disaster preparedness, and outdoor media advertising. The company's product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide 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 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs.