Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) was the target of a large drop in short interest during the month of 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. Currently, 9.3% of the company’s shares 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. Currently, 9.3% of the company’s shares are short sold.

Beam Global Stock Performance

Shares of Beam Global stock opened at $1.46 on Friday. The business has a 50-day moving average price of $1.67 and a two-hundred day moving average price of $2.22. Beam Global has a 1-year low of $1.33 and a 1-year high of $4.04. The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The company has a market cap of $27.78 million, a P/E ratio of -0.76 and a beta of 1.34.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Friday, November 14th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $5.79 million for the quarter, compared to the consensus estimate 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, analysts anticipate that Beam Global will post -0.67 EPS for the current year.

Institutional Trading of Beam Global

Several large investors have recently modified their holdings of the stock. T3 Companies LLC acquired a new position in shares of Beam Global during the 4th quarter valued at $165,000. Green Alpha Advisors LLC increased 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 purchasing an additional 27,903 shares in the last quarter. State Street Corp increased its stake in Beam Global by 17.6% in the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after purchasing an additional 8,700 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Beam Global by 8.8% during the third 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 period. Finally, Renaissance Technologies LLC boosted its position in shares of Beam Global by 268.0% during the 4th quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $186,000 after purchasing an additional 90,300 shares in the last quarter. Institutional investors and hedge funds own 26.59% of the company’s stock.

Analyst Upgrades and Downgrades

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