Beam Global (NASDAQ:BEEM) Price Target Cut to $8.00 by Analysts at HC Wainwright

Beam Global (NASDAQ:BEEM) had its target price trimmed by HC Wainwright from $30.00 to $8.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a research note on Monday, November 18th. B. Riley reduced their target price on Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th.

Beam Global Stock Performance

Beam Global stock opened at $4.16 on Tuesday. The stock has a market cap of $61.44 million, a P/E ratio of -4.29 and a beta of 0.87. Beam Global has a fifty-two week low of $3.82 and a fifty-two week high of $8.48. The firm’s fifty day moving average price is $4.77 and its 200-day moving average price is $5.34.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Beam Global during the third quarter valued at about $25,000. XTX Topco Ltd purchased a new stake in Beam Global during the second quarter valued at about $48,000. Virtue Capital Management LLC purchased a new stake in Beam Global during the third quarter valued at about $49,000. Calton & Associates Inc. purchased a new stake in Beam Global during the third quarter valued at about $93,000. Finally, Green Alpha Advisors LLC boosted its position in Beam Global by 16.1% during the third quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock valued at $230,000 after buying an additional 6,500 shares during the period. 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.