Beam Global’s (BEEM) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Beam Global (NASDAQ:BEEM) in a research report sent to investors on Monday,Benzinga reports.

Several other equities research analysts have also commented on the stock. B. Riley lowered their price target on shares of Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Beam Global in a report on Wednesday, August 14th.

Beam Global Price Performance

NASDAQ BEEM opened at $4.08 on Monday. The stock’s fifty day moving average price is $4.79 and its 200 day moving average price is $5.35. Beam Global has a 1 year low of $3.82 and a 1 year high of $8.48. The company has a market cap of $60.26 million, a price-to-earnings ratio of -4.21 and a beta of 0.87.

Institutional Investors Weigh In On Beam Global

Several hedge funds have recently added to or reduced their stakes in BEEM. Vanguard Group Inc. raised its position in shares of Beam Global by 21.0% in the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after acquiring an additional 107,200 shares during the period. AWM Investment Company Inc. raised its position in shares of Beam Global by 8.4% in the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock worth $6,688,000 after acquiring an additional 76,301 shares during the period. Tidal Investments LLC acquired a new position in shares of Beam Global in the first quarter worth about $284,000. Calton & Associates Inc. acquired a new position in shares of Beam Global in the third quarter worth about $93,000. Finally, XTX Topco Ltd acquired a new position in shares of Beam Global in the second quarter worth about $48,000. 26.59% of the stock is 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.