Short Interest in Beam Global (NASDAQ:BEEM) Increases By 16.8%

Beam Global (NASDAQ:BEEM) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 1,883,208 shares, an increase of 16.8% from the March 31st total of 1,611,671 shares. Based on an average daily trading volume, of 354,191 shares, the short-interest ratio is currently 5.3 days. Currently, 9.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BEEM. Vanguard Group Inc. boosted its holdings in shares of Beam Global by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after buying an additional 53,640 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Beam Global in the 3rd quarter valued at $102,000. Green Alpha Advisors LLC boosted its holdings in shares of Beam Global by 143.3% in the 4th quarter. Green Alpha Advisors LLC now owns 47,374 shares of the company’s stock valued at $71,000 after buying an additional 27,903 shares in the last quarter. T3 Companies LLC acquired a new position in shares of Beam Global in the 4th quarter valued at $165,000. Finally, Renaissance Technologies LLC boosted its stake in Beam Global by 268.0% during the 4th quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $186,000 after purchasing an additional 90,300 shares during the period. Institutional investors and hedge funds own 26.59% of the company’s stock.

Beam Global Stock Up 2.6%

Shares of NASDAQ:BEEM traded up $0.05 during trading hours on Friday, reaching $1.95. The stock had a trading volume of 972,357 shares, compared to its average volume of 1,219,299. Beam Global has a 1 year low of $1.34 and a 1 year high of $4.04. The firm’s 50 day moving average is $1.56 and its 200-day moving average is $1.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.93 and a current ratio of 1.74. The stock has a market capitalization of $41.22 million, a price-to-earnings ratio of -1.17 and a beta of 1.32.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Thursday, April 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.13. Beam Global had a negative net margin of 95.63% and a negative return on equity of 61.84%. The business had revenue of $9.05 million during the quarter, compared to analysts’ expectations of $6.17 million. Research analysts predict that Beam Global will post -0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BEEM shares. Wall Street Zen raised shares of Beam Global from a “strong sell” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Global in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.00.

About Beam Global

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.