Beam Global (NASDAQ:BEEM) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Beam Global (NASDAQ:BEEM) from a sell rating to a strong sell rating in a report published on Sunday morning.

BEEM has been the subject of a number of other reports. Freedom Capital upgraded Beam Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Weiss Ratings lowered shares of Beam Global from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Finally, Zacks Research cut shares of Beam Global from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company. According to MarketBeat, Beam Global currently has a consensus rating of “Hold”.

Beam Global Price Performance

Beam Global stock opened at $1.13 on Friday. Beam Global has a fifty-two week low of $0.97 and a fifty-two week high of $4.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.67 and a current ratio of 1.47. The firm has a 50 day moving average price of $1.17 and a 200 day moving average price of $1.42. The company has a market capitalization of $25.09 million, a PE ratio of -1.18 and a beta of 1.43.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Friday, May 15th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). Beam Global had a negative net margin of 73.22% and a negative return on equity of 73.50%. The firm had revenue of $3.13 million during the quarter, compared to analysts’ expectations of $7.33 million. Research analysts expect that Beam Global will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Beam Global

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Beam Global in the 2nd quarter valued at $288,000. T3 Companies LLC purchased a new stake in Beam Global in the fourth quarter valued at $165,000. Renaissance Technologies LLC lifted its position in Beam Global by 268.0% in the fourth quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $186,000 after acquiring an additional 90,300 shares during the last quarter. Vanguard Group Inc. boosted its stake in Beam Global by 8.8% in the third quarter. Vanguard Group Inc. now owns 660,619 shares of the company’s stock valued at $1,903,000 after acquiring an additional 53,640 shares in the last quarter. Finally, Virtue Capital Management LLC boosted its stake in 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 acquiring an additional 46,527 shares in the last quarter. 26.59% of the stock is currently owned by institutional investors and hedge funds.

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.