Short Interest in Beam Global (NASDAQ:BEEM) Drops By 50.6%

Beam Global (NASDAQ:BEEM) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 1,663,790 shares, a drop of 50.6% from the January 15th total of 3,367,923 shares. Approximately 9.3% of the company’s stock are short sold. Based on an average daily volume of 869,750 shares, the short-interest ratio is presently 1.9 days. Based on an average daily volume of 869,750 shares, the short-interest ratio is presently 1.9 days. Approximately 9.3% of the company’s stock are short sold.

Beam Global Price Performance

BEEM opened at $1.45 on Thursday. The firm has a market cap of $27.59 million, a price-to-earnings ratio of -0.76 and a beta of 1.34. Beam Global has a fifty-two week low of $1.33 and a fifty-two week high of $4.04. The company’s 50-day moving average price is $1.69 and its 200 day moving average price is $2.24. The company has a quick ratio of 0.97, a current ratio of 1.98 and a debt-to-equity ratio of 0.01.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Friday, November 14th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $5.79 million during the quarter, compared to analyst estimates of $8.45 million. Beam Global had a negative net margin of 105.89% and a negative return on equity of 61.03%. As a group, sell-side analysts expect that Beam Global will post -0.67 earnings per share for the current year.

Institutional Investors Weigh In On Beam Global

Several large investors have recently added to or reduced their stakes in BEEM. Green Alpha Advisors LLC lifted its stake in Beam Global by 143.3% in the fourth quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after buying an additional 27,903 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Beam Global during the third quarter worth about $102,000. T3 Companies LLC acquired a new stake in shares of Beam Global in the 4th quarter worth about $165,000. Finally, Vanguard Group Inc. lifted its position in Beam Global by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after purchasing an additional 53,640 shares during the last quarter. 26.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Beam Global in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Beam Global currently has an average rating of “Hold” and an average price target of $4.00.

About Beam Global

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.