B. Riley Issues Pessimistic Forecast for Beam Global (NASDAQ:BEEM) Stock Price

Beam Global (NASDAQ:BEEM) had its price objective reduced by research analysts at B. Riley from $5.00 to $4.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price suggests a potential upside of 150.63% from the stock’s previous close.

BEEM has been the subject of a number of other reports. Maxim Group decreased their price objective on Beam Global from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Friday.

Beam Global Price Performance

Shares of Beam Global stock traded down $0.00 during midday trading on Tuesday, hitting $1.60. 40,432 shares of the company were exchanged, compared to its average volume of 172,210. The firm has a market cap of $24.73 million, a P/E ratio of -1.65 and a beta of 1.37. The firm has a 50 day simple moving average of $1.76 and a 200-day simple moving average of $2.65. Beam Global has a 52 week low of $1.33 and a 52 week high of $7.68.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Thursday, May 15th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.16). The firm had revenue of $6.32 million for the quarter, compared to analyst estimates of $8.00 million. Beam Global had a negative return on equity of 19.09% and a negative net margin of 19.26%. During the same quarter last year, the business earned ($0.21) EPS. Equities research analysts expect that Beam Global will post -0.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BEEM. XTX Topco Ltd boosted its stake in shares of Beam Global by 106.0% during the 4th quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock valued at $133,000 after purchasing an additional 21,548 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Beam Global in the 4th quarter worth about $39,000. Northern Trust Corp raised its stake in Beam Global by 51.6% during the 4th quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock valued at $173,000 after buying an additional 18,628 shares during the last quarter. Virtue Capital Management LLC lifted its stake in shares of Beam Global by 400.0% in the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock worth $158,000 after purchasing an additional 40,000 shares during the period. Finally, Shufro Rose & Co. LLC bought a new position in Beam Global in the first quarter worth approximately $31,000. 26.59% of the stock is owned by hedge funds and other institutional investors.

Beam Global Company Profile

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and 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 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.