Beam Global (NASDAQ:BEEM) Upgraded to Strong-Buy by B. Riley

Beam Global (NASDAQ:BEEM) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports.

A number of other brokerages have also weighed in on BEEM. Roth Mkm restated a “buy” rating and issued a $9.00 price objective on shares of Beam Global in a report on Tuesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a report on Wednesday, May 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Beam Global in a report on Wednesday, May 22nd.

Beam Global Price Performance

Shares of NASDAQ BEEM opened at $4.50 on Tuesday. The stock has a market capitalization of $65.43 million, a price-to-earnings ratio of -3.46 and a beta of 0.91. Beam Global has a 12 month low of $4.30 and a 12 month high of $12.57. The firm’s 50 day simple moving average is $5.98 and its 200-day simple moving average is $6.43.

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

Hedge Funds Weigh In On Beam Global

Institutional investors have recently bought and sold shares of the company. Barclays PLC acquired a new position in Beam Global in the 3rd quarter valued at about $128,000. PFG Investments LLC grew its position in shares of Beam Global by 97.0% during the first quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after buying an additional 11,348 shares in the last quarter. Oak Family Advisors LLC acquired a new position in Beam Global in the fourth quarter valued at approximately $264,000. Tidal Investments LLC acquired a new position in Beam Global in the first quarter valued at approximately $284,000. Finally, AWM Investment Company Inc. boosted its holdings in Beam Global by 39.4% in the third quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock valued at $4,372,000 after purchasing an additional 167,363 shares in the last quarter. 26.59% of the stock is owned by institutional investors and hedge funds.

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.