Beam Global (NASDAQ:BEEM) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Beam Global (NASDAQ:BEEM) announced its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.13, FiscalAI reports. The company had revenue of $9.05 million during the quarter, compared to analysts’ expectations of $6.17 million. Beam Global had a negative return on equity of 61.03% and a negative net margin of 105.89%.

Beam Global Stock Performance

BEEM traded up $0.07 on Thursday, reaching $1.63. The stock had a trading volume of 558,251 shares, compared to its average volume of 1,277,650. The company has a market cap of $31.02 million, a P/E ratio of -0.85 and a beta of 1.32. Beam Global has a 12-month low of $1.33 and a 12-month high of $4.04. The business’s 50-day moving average price is $1.50 and its two-hundred day moving average price is $1.95. The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

Institutional Trading of Beam Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new stake in shares of Beam Global in the fourth quarter valued at approximately $61,000. Virtue Capital Management LLC increased its position in shares of Beam Global by 1,339.7% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after buying an additional 46,527 shares in the last quarter. State Street Corp increased its position in shares of Beam Global by 17.6% in the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock valued at $87,000 after buying an additional 8,700 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Beam Global during the third quarter worth about $102,000. Finally, Renaissance Technologies LLC increased 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 worth $186,000 after purchasing an additional 90,300 shares in the last quarter. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Global in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.00.

Beam Global Company Profile

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.