Weiss Ratings Reaffirms Sell (D-) Rating for Beam Global (NASDAQ:BEEM)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Beam Global (NASDAQ:BEEM), indicating ongoing concerns about the company's performance.
• Beam Global reported a loss of $0.28 EPS for the latest quarter, slightly better than analysts' expectation of a loss of $0.29 EPS, but revenue fell short of estimates.
• The stock currently has an average target price of $5.33 and is rated as a "Moderate Buy" by analysts, with mixed ratings reflecting both optimism and caution from various investment firms.

Beam Global (NASDAQ:BEEM - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Needham & Company LLC reissued a "hold" rating on shares of Beam Global in a report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Beam Global currently has an average rating of "Moderate Buy" and an average target price of $5.33.

Beam Global Stock Performance

NASDAQ:BEEM traded up $0.12 during trading hours on Wednesday, reaching $3.35. 320,339 shares of the stock were exchanged, compared to its average volume of 532,302. The company has a quick ratio of 0.88, a current ratio of 1.77 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $2.60 and a 200-day simple moving average of $2.05. Beam Global has a 52 week low of $1.33 and a 52 week high of $5.30. The stock has a market capitalization of $59.09 million, a P/E ratio of -2.18 and a beta of 1.31.

Beam Global (NASDAQ:BEEM - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.01. The company had revenue of $7.08 million for the quarter, compared to the consensus estimate of $7.25 million. Beam Global had a negative return on equity of 34.97% and a negative net margin of 69.33%. As a group, sell-side analysts forecast that Beam Global will post -0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beam Global

An institutional investor recently bought a new position in Beam Global stock. Shufro Rose & Co. LLC bought a new position in shares of Beam Global (NASDAQ:BEEM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,000 shares of the company's stock, valued at approximately $31,000. Shufro Rose & Co. LLC owned 0.10% of Beam Global as of its most recent SEC filing. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

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.

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