Maxim Group Trims Beam Global (NASDAQ:BEEM) Target Price to $40.00

Beam Global (NASDAQ:BEEMGet Rating) had its target price lowered by stock analysts at Maxim Group from $50.00 to $40.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 128.05% from the company’s current price.

Several other brokerages have also recently commented on BEEM. B. Riley started coverage on Beam Global in a report on Friday, June 17th. They issued a “buy” rating and a $23.00 target price on the stock. BTIG Research cut their price target on Beam Global from $42.00 to $25.00 in a report on Thursday, May 26th.

Beam Global Price Performance

Shares of BEEM stock opened at $17.54 on Monday. The business’s 50 day simple moving average is $15.02 and its 200 day simple moving average is $15.79. Beam Global has a one year low of $10.19 and a one year high of $39.39. The stock has a market capitalization of $176.86 million, a PE ratio of -18.80 and a beta of 0.28.

Beam Global (NASDAQ:BEEMGet Rating) last announced its earnings results on Tuesday, May 24th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Beam Global had a negative net margin of 67.59% and a negative return on equity of 28.72%. The company had revenue of $3.77 million during the quarter, compared to the consensus estimate of $3.10 million. As a group, research analysts expect that Beam Global will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On Beam Global

Institutional investors and hedge funds have recently modified their holdings of the business. JNBA Financial Advisors purchased a new stake in Beam Global in the 1st quarter valued at $82,000. Shay Capital LLC bought a new position in shares of Beam Global during the 4th quarter worth $196,000. Nicola Wealth Management LTD. boosted its stake in Beam Global by 23.9% in the 1st quarter. Nicola Wealth Management LTD. now owns 210,000 shares of the company’s stock worth $4,295,000 after purchasing an additional 40,480 shares during the period. Inspire Advisors LLC bought a new position in Beam Global in the 1st quarter worth about $268,000. Finally, Green Alpha Advisors LLC bought a new position in Beam Global in the 1st quarter worth about $621,000. 35.04% of the stock is currently owned by institutional investors.

Beam Global Company Profile

(Get Rating)

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized products for electric vehicle (EV) charging infrastructure, outdoor media and branding, and energy security products. The company's product portfolio include 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.

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