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

Beam Global (NASDAQ:BEEM)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 383.87% from the stock’s previous close.

Beam Global Trading Up 12.3 %

Shares of Beam Global stock opened at $6.20 on Thursday. The company’s 50-day moving average price is $6.81 and its 200-day moving average price is $6.50. The company has a market cap of $88.23 million, a price-to-earnings ratio of -4.22 and a beta of 0.82. Beam Global has a 12-month low of $5.00 and a 12-month high of $13.66.

Institutional Investors Weigh In On Beam Global

A number of institutional investors and hedge funds have recently bought and sold shares of BEEM. AWM Investment Company Inc. raised its stake in 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 in the last quarter. Millennium Management LLC bought a new position in Beam Global during the second quarter valued at approximately $2,061,000. LPL Financial LLC bought a new position in Beam Global during the third quarter valued at approximately $553,000. Deutsche Bank AG bought a new position in Beam Global during the first quarter valued at approximately $1,117,000. Finally, First Trust Advisors LP bought a new position in Beam Global during the first quarter valued at approximately $967,000. 26.59% of the stock is owned by hedge funds and other institutional investors.

About Beam Global

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.