Beam Global (NASDAQ:BEEM) Given New $10.00 Price Target at B. Riley

Beam Global (NASDAQ:BEEM) had its target price reduced by analysts at B. Riley from $11.00 to $10.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 73.91% from the company’s previous close.

A number of other brokerages have also weighed in on BEEM. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Beam Global in a research report on Wednesday. Roth Mkm restated a “buy” rating and set a $9.00 price objective on shares of Beam Global in a report on Tuesday, April 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Beam Global in a research note on Wednesday.

Beam Global Stock Performance

Beam Global stock opened at $5.75 on Wednesday. The stock has a market capitalization of $83.59 million, a price-to-earnings ratio of -4.42 and a beta of 0.93. Beam Global has a 52-week low of $4.30 and a 52-week high of $10.25. The stock’s 50 day moving average price is $5.70 and its two-hundred day moving average price is $6.30.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Monday, May 20th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $14.56 million for the quarter, compared to analyst estimates of $17.65 million. Beam Global had a negative net margin of 22.16% and a negative return on equity of 30.53%. On average, equities research analysts forecast that Beam Global will post -0.71 EPS for the current year.

Institutional Trading of Beam Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. PFG Investments LLC boosted its holdings in Beam Global by 97.0% during the first quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after purchasing an additional 11,348 shares during the last quarter. Oak Family Advisors LLC boosted its stake in shares of Beam Global by 26.7% in the 1st quarter. Oak Family Advisors LLC now owns 47,107 shares of the company’s stock worth $320,000 after buying an additional 9,921 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Beam Global by 21.0% in the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after acquiring an additional 107,200 shares in the last quarter. AWM Investment Company Inc. increased its position in shares of Beam Global by 8.4% during the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock valued at $6,688,000 after acquiring an additional 76,301 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in Beam Global during the first quarter worth $284,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

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.