Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 1,540,000 shares, a drop of 8.3% from the May 31st total of 1,680,000 shares. Based on an average trading volume of 107,700 shares, the days-to-cover ratio is presently 14.3 days.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Roth Mkm reissued a “buy” rating and set a $9.00 price objective on shares of Beam Global in a research report on Tuesday, April 23rd. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Beam Global in a research report on Wednesday, May 22nd. B. Riley raised shares of Beam Global to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a research report on Wednesday, May 22nd.

Hedge Funds Weigh In On Beam Global

A number of institutional investors and hedge funds have recently made changes to their positions in BEEM. Barclays PLC purchased a new position in shares of Beam Global in the third quarter worth approximately $128,000. PFG Investments LLC raised its stake in Beam Global by 97.0% during the 1st quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after acquiring an additional 11,348 shares during the period. Oak Family Advisors LLC bought a new stake in Beam Global during the 4th quarter worth approximately $264,000. Tidal Investments LLC bought a new stake in Beam Global during the 1st quarter worth approximately $284,000. Finally, Vanguard Group Inc. raised its stake in Beam Global by 21.0% during the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after acquiring an additional 107,200 shares during the period. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Beam Global Stock Performance

Shares of NASDAQ BEEM traded up $0.12 during trading on Wednesday, reaching $5.39. 255,195 shares of the company traded hands, compared to its average volume of 113,890. The firm has a 50 day simple moving average of $5.86 and a 200-day simple moving average of $6.40. Beam Global has a 52-week low of $4.30 and a 52-week high of $12.57.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings data on Monday, May 20th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. The company had revenue of $14.56 million for the quarter, compared to the consensus estimate of $17.65 million. Beam Global had a negative net margin of 22.16% and a negative return on equity of 30.53%. As a group, analysts anticipate that Beam Global will post -0.77 EPS for the current year.

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.