Beam Global (NASDAQ:BEEM) Stock Price Down 5.9%

Beam Global (NASDAQ:BEEM) shares were down 5.9% on Monday . The stock traded as low as $4.73 and last traded at $4.82. Approximately 134,323 shares changed hands during trading, an increase of 22% from the average daily volume of 109,813 shares. The stock had previously closed at $5.12.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BEEM shares. B. Riley cut their price objective on shares of Beam Global from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Wednesday, May 22nd. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Beam Global in a research note on Wednesday, May 22nd. Finally, Roth Mkm restated a “buy” rating and issued a $9.00 target price on shares of Beam Global in a research note on Tuesday, April 23rd.

Beam Global Stock Down 5.9 %

The stock has a fifty day moving average of $6.05 and a 200-day moving average of $6.46. The firm has a market capitalization of $70.08 million, a P/E ratio of -3.71 and a beta of 0.91.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.09. The firm had revenue of $14.56 million during the quarter, compared to analysts’ expectations of $17.65 million. Beam Global had a negative return on equity of 30.53% and a negative net margin of 22.16%. As a group, analysts forecast that Beam Global will post -0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Beam Global

Institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. boosted its position in Beam Global by 39.4% during the 3rd quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock worth $4,372,000 after acquiring an additional 167,363 shares during the last quarter. Vanguard Group Inc. increased its position in Beam Global by 21.0% during the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after buying an additional 107,200 shares during the period. Tidal Investments LLC bought a new position in Beam Global during the 1st quarter worth $284,000. Oak Family Advisors LLC bought a new position in Beam Global during the 4th quarter worth $264,000. Finally, Barclays PLC acquired a new stake in shares of Beam Global during the 3rd quarter worth $128,000. 26.59% of the stock is currently owned by institutional investors and hedge funds.

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.