Beam Global’s (BEEM) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Beam Global (NASDAQ:BEEM) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

Beam Global Trading Up 3.2 %

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. AWM Investment Company Inc. grew 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 acquiring an additional 167,363 shares during the period. BlackRock Inc. grew its stake in shares of Beam Global by 3.4% during the 1st quarter. BlackRock Inc. now owns 561,382 shares of the company’s stock valued at $11,480,000 after acquiring an additional 18,648 shares during the period. Vanguard Group Inc. grew its stake in shares of Beam Global by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 511,476 shares of the company’s stock valued at $3,626,000 after acquiring an additional 46,130 shares during the period. Invesco Ltd. grew its stake in shares of Beam Global by 11.2% during the 3rd quarter. Invesco Ltd. now owns 357,417 shares of the company’s stock valued at $2,638,000 after acquiring an additional 35,869 shares during the period. Finally, State Street Corp boosted its stake in Beam Global by 5.0% in the 1st quarter. State Street Corp now owns 317,710 shares of the company’s stock worth $6,497,000 after purchasing an additional 15,178 shares during the period. 26.59% of the stock is currently owned by institutional investors.

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.