HC Wainwright Has Lowered Expectations for Beam Global (NASDAQ:BEEM) Stock Price

Beam Global (NASDAQ:BEEM) had its target price trimmed by HC Wainwright from $30.00 to $8.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

BEEM has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Beam Global in a research report on Monday. B. Riley dropped their price objective on Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th.

Beam Global Stock Down 9.2 %

NASDAQ:BEEM opened at $3.95 on Tuesday. Beam Global has a twelve month low of $3.89 and a twelve month high of $8.48. The business has a 50 day moving average price of $4.84 and a two-hundred day moving average price of $5.37. The company has a market cap of $58.36 million, a P/E ratio of -4.07 and a beta of 0.87.

Institutional Investors Weigh In On Beam Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Beam Global in the 3rd quarter valued at $25,000. Oak Family Advisors LLC raised its stake in Beam Global by 11.0% in the 2nd quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after acquiring an additional 5,181 shares during the period. Green Alpha Advisors LLC raised its stake in Beam Global by 16.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock valued at $230,000 after acquiring an additional 6,500 shares during the period. XTX Topco Ltd raised its stake in Beam Global by 96.3% in the 3rd quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock valued at $100,000 after acquiring an additional 9,975 shares during the period. Finally, Virtue Capital Management LLC bought a new stake in Beam Global in the 3rd quarter valued at $49,000. Institutional investors own 26.59% of the company’s stock.

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.