Needham & Company LLC Reiterates Hold Rating for Beam Global (NASDAQ:BEEM)

Needham & Company LLC reissued their hold rating on shares of Beam Global (NASDAQ:BEEM) in a research note published on Wednesday morning, Benzinga reports.

A number of other research analysts have also issued reports on the company. B. Riley reduced their price objective on Beam Global from $18.00 to $15.00 and set a buy rating for the company in a research report on Thursday, April 18th. HC Wainwright reiterated a buy rating and set a $30.00 price target on shares of Beam Global in a research report on Wednesday. Finally, Roth Mkm reiterated a buy rating and set a $9.00 price target on shares of Beam Global in a research report on Tuesday, April 23rd.

Beam Global Price Performance

NASDAQ:BEEM opened at $6.23 on Wednesday. Beam Global has a 12-month low of $5.00 and a 12-month high of $12.69. The firm has a market capitalization of $90.57 million, a P/E ratio of -4.79 and a beta of 0.92. The business has a 50 day simple moving average of $6.34 and a 200 day simple moving average of $6.47.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings data on Tuesday, April 16th. The company reported ($0.51) earnings per share (EPS) for the quarter. Beam Global had a negative net margin of 22.16% and a negative return on equity of 30.53%. The company had revenue of $20.03 million for the quarter. Research analysts anticipate that Beam Global will post -0.7 EPS for the current fiscal year.

Institutional Trading of Beam Global

A number of hedge funds and other institutional investors have recently modified their holdings of BEEM. Jump Financial LLC bought a new stake in shares of Beam Global in the 3rd quarter worth $130,000. Barclays PLC acquired a new stake in shares of Beam Global during the third quarter worth $128,000. Pathstone Family Office LLC raised its position in shares of 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 purchasing an additional 2,305 shares during the period. AWM Investment Company Inc. raised its position in shares of Beam Global by 39.4% during the third quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock worth $4,372,000 after purchasing an additional 167,363 shares during the period. Finally, Oak Family Advisors LLC acquired a new stake in shares of Beam Global during the fourth quarter worth $264,000. 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.