Beam Global (NASDAQ:BEEM) Given Hold Rating at Needham & Company LLC

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports.

A number of other brokerages have also commented on BEEM. B. Riley decreased their price objective on shares of Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Beam Global in a report on Wednesday, August 14th.

Beam Global Price Performance

Beam Global stock traded up $0.25 on Monday, reaching $4.49. The company’s stock had a trading volume of 159,080 shares, compared to its average volume of 128,376. The business’s fifty day moving average price is $4.87 and its 200 day moving average price is $5.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.79. The company has a market cap of $65.64 million, a price-to-earnings ratio of -4.63 and a beta of 0.87. Beam Global has a twelve month low of $3.89 and a twelve month high of $8.48.

Institutional Investors Weigh In On Beam Global

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd boosted its position in shares of Beam Global by 96.3% during the third quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock worth $100,000 after buying an additional 9,975 shares during the period. Capital Performance Advisors LLP bought a new stake in Beam Global in the 3rd quarter valued at approximately $25,000. Calton & Associates Inc. acquired a new position in Beam Global during the 3rd quarter worth approximately $93,000. Green Alpha Advisors LLC grew its stake in shares of Beam Global by 16.1% during the 3rd quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock worth $230,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Oak Family Advisors LLC raised 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 during the last quarter. 26.59% of the stock is currently owned by institutional investors and hedge funds.

About Beam Global

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.