Beam Global (NASDAQ:BEEM) Downgraded by Freedom Capital to Hold

Freedom Capital downgraded shares of Beam Global (NASDAQ:BEEM) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

BEEM has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Global in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Beam Global from a “strong sell” rating to a “hold” rating in a research note on Saturday, April 11th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Beam Global currently has a consensus rating of “Reduce”.

Beam Global Trading Down 2.1%

Shares of Beam Global stock opened at $1.40 on Monday. The firm has a 50-day simple moving average of $1.61 and a two-hundred day simple moving average of $1.69. The company has a market cap of $31.08 million, a P/E ratio of -1.46 and a beta of 1.48. Beam Global has a fifty-two week low of $1.34 and a fifty-two week high of $4.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.93 and a current ratio of 1.47.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). The firm had revenue of $3.13 million during the quarter, compared to analyst estimates of $7.33 million. Beam Global had a negative return on equity of 73.50% and a negative net margin of 73.22%. As a group, equities analysts predict that Beam Global will post -0.63 earnings per share for the current fiscal year.

Institutional Trading of Beam Global

Large investors have recently bought and sold shares of the business. R Squared Ltd purchased a new stake in Beam Global during the 1st quarter valued at about $26,000. Two Sigma Investments LP purchased a new stake in Beam Global during the 3rd quarter valued at about $102,000. Quadrature Capital Ltd purchased a new stake in Beam Global during the 4th quarter valued at about $61,000. Green Alpha Advisors LLC grew its stake in Beam Global by 143.3% during the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after acquiring an additional 27,903 shares in the last quarter. Finally, Virtue Capital Management LLC grew its stake in Beam Global by 1,339.7% during the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after acquiring an additional 46,527 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 (NASDAQ:BEEM) is a developer of solar-powered infrastructure solutions designed to support the transition to clean energy and electric transportation. Headquartered in California, the company specializes in producing off-grid EV charging units, solar canopy systems and energy storage solutions that can be rapidly deployed in urban, rural and remote environments. By integrating photovoltaic panels with battery storage and charging hardware, Beam Global’s products aim to reduce reliance on grid power and lower carbon emissions at charging locations.

The company’s flagship product, EV ARC, is a standalone, solar-powered electric vehicle fast-charging kiosk that requires no construction, trenching or utility upgrades.