Beam Global (NASDAQ:BEEM) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Beam Global (NASDAQ:BEEM - Free Report) in a research report released on Wednesday, Benzinga reports.

A number of other analysts also recently issued reports on BEEM. B. Riley lowered their price objective on shares of Beam Global from $18.00 to $15.00 and set a buy rating on the stock in a report on Thursday, April 18th. HC Wainwright restated a buy rating and set a $30.00 target price on shares of Beam Global in a report on Wednesday. Finally, Roth Mkm restated a buy rating and set a $9.00 target price on shares of Beam Global in a report on Tuesday, April 23rd.

Beam Global Stock Up 4.4 %

Beam Global stock traded up $0.26 during midday trading on Wednesday, hitting $6.11. 207,042 shares of the stock were exchanged, compared to its average volume of 113,984. The company has a fifty day simple moving average of $6.36 and a two-hundred day simple moving average of $6.47. Beam Global has a 52 week low of $5.00 and a 52 week high of $13.66. The stock has a market capitalization of $88.78 million, a PE ratio of -4.70 and a beta of 0.92.

Beam Global (NASDAQ:BEEM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The company reported ($0.51) earnings per share for the quarter. Beam Global had a negative net margin of 22.16% and a negative return on equity of 29.91%. The company had revenue of $20.03 million during the quarter. As a group, equities research analysts anticipate that Beam Global will post -0.84 EPS for the current fiscal year.

Institutional Trading of Beam Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC bought a new position in shares of Beam Global in the third quarter valued at about $128,000. Jump Financial LLC bought a new position in shares of Beam Global in the third quarter valued at about $130,000. Pathstone Family Office LLC raised its position in shares of Beam Global by 13.9% in the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company's stock valued at $139,000 after purchasing an additional 2,305 shares during the period. PFG Investments LLC raised its position in shares of Beam Global by 97.0% in the first quarter. PFG Investments LLC now owns 23,051 shares of the company's stock valued at $157,000 after purchasing an additional 11,348 shares during the period. Finally, Oak Family Advisors LLC bought a new position in shares of Beam Global in the fourth quarter valued at about $264,000. 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.