Beam Global (NASDAQ:BEEM) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Beam Global (NASDAQ:BEEM) posted its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06, FiscalAI reports. Beam Global had a negative return on equity of 73.50% and a negative net margin of 73.22%.The business had revenue of $8.56 million for the quarter, compared to analyst estimates of $8.19 million.

Beam Global Stock Performance

BEEM stock traded up $0.06 on Wednesday, reaching $1.21. The company’s stock had a trading volume of 5,002,175 shares, compared to its average volume of 1,262,625. Beam Global has a 52 week low of $0.97 and a 52 week high of $4.04. The company has a market capitalization of $26.86 million, a P/E ratio of -1.26 and a beta of 1.43. The firm has a fifty day moving average of $1.16 and a two-hundred day moving average of $1.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.47 and a quick ratio of 0.67.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BEEM. Vanguard Group Inc. grew its stake in shares of Beam Global by 8.8% in the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock worth $1,903,000 after purchasing an additional 53,640 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Beam Global by 268.0% during the fourth quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $186,000 after purchasing an additional 90,300 shares in the last quarter. State Street Corp raised its stake in shares of Beam Global by 17.6% during 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. Virtue Capital Management LLC raised its stake in shares of Beam Global by 1,339.7% during the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after purchasing an additional 46,527 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Beam Global in the fourth quarter worth about $61,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Zacks Research lowered shares of Beam Global from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 29th. Freedom Capital raised shares of Beam Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Weiss Ratings lowered shares of Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Beam Global from a “sell” rating to a “strong sell” rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

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.