Beam Global (NASDAQ:BEEM) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Beam Global (NASDAQ:BEEM) in a report released on Thursday morning, Benzinga reports. They currently have a $30.00 price objective on the stock.

Beam Global Price Performance

Shares of NASDAQ:BEEM opened at $6.14 on Thursday. Beam Global has a 1 year low of $5.00 and a 1 year high of $13.66. The business’s 50 day moving average price is $6.77 and its 200-day moving average price is $6.48. The firm has a market capitalization of $88.66 million, a PE ratio of -4.18 and a beta of 0.82.

Hedge Funds Weigh In On Beam Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Beam Global by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 511,476 shares of the company’s stock worth $3,626,000 after acquiring an additional 46,130 shares during the period. Virtue Capital Management LLC purchased a new stake in shares of Beam Global during the 4th quarter valued at $71,000. OLD Mission Capital LLC acquired a new position in Beam Global during the fourth quarter valued at approximately $75,000. Pathstone Holdings LLC purchased a new stake in Beam Global during the 4th quarter worth $186,000. Finally, Northern Trust Corp increased its holdings in Beam Global by 51.2% in the fourth quarter. Northern Trust Corp now owns 40,254 shares of the company’s stock valued at $285,000 after buying an additional 13,630 shares during the last quarter. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Beam Global Company Profile

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized infrastructure products for electric vehicle (EV) charging infrastructure, energy storage, energy security, disaster preparedness, and outdoor media advertising. The company's product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide 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 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs.