Short Interest in Beam Global (NASDAQ:BEEM) Declines By 14.4%

Beam Global (NASDAQ:BEEM) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,310,000 shares, a drop of 14.4% from the August 15th total of 1,530,000 shares. Based on an average daily volume of 181,900 shares, the short-interest ratio is currently 7.2 days.

Analysts Set New Price Targets

Several research firms recently commented on BEEM. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Beam Global in a research note on Wednesday, August 14th. B. Riley decreased their target price on Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Beam Global in a research note on Wednesday, August 14th.

Beam Global Stock Up 1.3 %

Beam Global stock traded up $0.07 during mid-day trading on Monday, reaching $5.36. The stock had a trading volume of 62,217 shares, compared to its average volume of 137,052. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.79. Beam Global has a fifty-two week low of $4.30 and a fifty-two week high of $8.48. The stock’s 50-day simple moving average is $5.55 and its 200-day simple moving average is $5.93. The firm has a market capitalization of $77.92 million, a PE ratio of -4.12 and a beta of 0.87.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. Beam Global had a negative return on equity of 29.07% and a negative net margin of 25.27%. The firm had revenue of $14.81 million during the quarter, compared to analysts’ expectations of $16.30 million. On average, sell-side analysts forecast that Beam Global will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Beam Global in the second quarter valued at approximately $48,000. Oak Family Advisors LLC lifted its holdings in shares of Beam Global by 11.0% in the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after purchasing an additional 5,181 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Beam Global in the first quarter valued at approximately $284,000. Vanguard Group Inc. lifted 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 purchasing an additional 107,200 shares in the last quarter. Finally, AWM Investment Company Inc. lifted its holdings in shares of Beam Global by 8.4% in the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock valued at $6,688,000 after purchasing an additional 76,301 shares in the last quarter. Institutional investors and hedge funds 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.