Beam Global (NASDAQ:BEEM) Price Target Cut to $15.00 by Analysts at B. Riley

Beam Global (NASDAQ:BEEM) had its price target decreased by B. Riley from $18.00 to $15.00 in a research report sent to investors on Thursday, Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on BEEM. HC Wainwright restated a buy rating and issued a $30.00 target price on shares of Beam Global in a report on Thursday. Needham & Company LLC reiterated a hold rating on shares of Beam Global in a research note on Thursday.

Beam Global Stock Performance

Shares of BEEM stock opened at $6.40 on Thursday. Beam Global has a 12-month low of $5.00 and a 12-month high of $13.66. The firm’s 50 day moving average is $6.79 and its 200 day moving average is $6.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BEEM. Jump Financial LLC purchased a new position in shares of Beam Global during the 3rd quarter valued at $130,000. Barclays PLC purchased a new position in shares of Beam Global during the 3rd quarter valued at $128,000. Oak Family Advisors LLC purchased a new position in shares of Beam Global during the 4th quarter valued at $264,000. AWM Investment Company Inc. lifted its stake in shares of Beam Global by 39.4% during the 3rd quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock valued at $4,372,000 after buying an additional 167,363 shares in the last quarter. Finally, Pathstone Family Office LLC lifted its stake in shares of Beam Global by 13.9% during the 3rd quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock valued at $139,000 after buying an additional 2,305 shares in the last quarter. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Beam Global Company Profile

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.