Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 1,540,000 shares, a decrease of 8.3% from the May 31st total of 1,680,000 shares. Based on an average daily trading volume, of 107,700 shares, the short-interest ratio is currently 14.3 days.

Analysts Set New Price Targets

BEEM has been the subject of several analyst reports. Roth Mkm reiterated a “buy” rating and set a $9.00 price target on shares of Beam Global in a report on Tuesday, April 23rd. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Beam Global in a research report on Wednesday, May 22nd. B. Riley upgraded shares of Beam Global to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a research report on Wednesday, May 22nd.

Beam Global Trading Down 3.0 %

Shares of Beam Global stock traded down $0.14 during mid-day trading on Monday, hitting $4.47. 27,162 shares of the stock were exchanged, compared to its average volume of 109,595. Beam Global has a twelve month low of $4.30 and a twelve month high of $12.57. The stock has a market capitalization of $64.99 million, a price-to-earnings ratio of -3.55 and a beta of 0.93. The company has a 50-day simple moving average of $5.92 and a 200 day simple moving average of $6.42.

Beam Global (NASDAQ:BEEM) last released its earnings results on Monday, May 20th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $14.56 million for the quarter, compared to analysts’ expectations of $17.65 million. Equities research analysts forecast that Beam Global will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Barclays PLC purchased a new stake in shares of Beam Global during the third quarter valued at approximately $128,000. Oak Family Advisors LLC purchased a new stake in shares of Beam Global during the fourth quarter valued at approximately $264,000. PFG Investments LLC raised its stake 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 valued at $157,000 after purchasing an additional 11,348 shares during the period. Vanguard Group Inc. raised its stake in shares of Beam Global by 21.0% during the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after purchasing an additional 107,200 shares during the period. Finally, AWM Investment Company Inc. grew its position in shares of Beam Global by 8.4% during the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock worth $6,688,000 after buying an additional 76,301 shares in the last quarter. Hedge funds and other institutional investors own 26.59% of the company’s stock.

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.