Q1 2024 EPS Estimates for Beam Global (NASDAQ:BEEM) Cut by Analyst

Beam Global (NASDAQ:BEEM) – Analysts at Roth Capital cut their Q1 2024 earnings estimates for shares of Beam Global in a research report issued on Tuesday, April 23rd. Roth Capital analyst C. Irwin now expects that the company will post earnings of ($0.30) per share for the quarter, down from their prior forecast of ($0.24). The consensus estimate for Beam Global’s current full-year earnings is ($0.84) per share. Roth Capital also issued estimates for Beam Global’s Q2 2024 earnings at ($0.24) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.80) EPS and FY2025 earnings at $0.15 EPS.

Several other brokerages have also issued reports on BEEM. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a research note on Thursday, April 18th. Roth Mkm reissued a “buy” rating and set a $9.00 target price on shares of Beam Global in a research note on Tuesday. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Beam Global in a research note on Thursday, April 18th. Finally, B. Riley cut their target price on shares of Beam Global from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th.

Beam Global Stock Performance

NASDAQ:BEEM opened at $6.54 on Thursday. The firm’s fifty day moving average is $6.63 and its 200-day moving average is $6.47. Beam Global has a 52 week low of $5.00 and a 52 week high of $13.66. The firm has a market cap of $94.42 million, a P/E ratio of -4.45 and a beta of 0.82.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings data on Tuesday, April 16th. The company reported ($0.51) EPS for the quarter. Beam Global had a negative net margin of 23.84% and a negative return on equity of 36.71%. The firm had revenue of $20.03 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BEEM. Calton & Associates Inc. acquired a new position in Beam Global during the third quarter worth $143,000. Jump Financial LLC acquired a new position in Beam Global during the third quarter worth $130,000. Barclays PLC acquired a new position in Beam Global during the third quarter worth $128,000. Pathstone Family Office LLC raised its holdings in Beam Global by 13.9% during the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock worth $139,000 after buying an additional 2,305 shares during the last quarter. Finally, AWM Investment Company Inc. raised its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds 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.