Beam Global (NASDAQ:BEEM) Stock Price Down 6.6% – What’s Next?

Shares of Beam Global (NASDAQ:BEEM) were down 6.6% on Monday . The company traded as low as $3.02 and last traded at $3.12. Approximately 233,997 shares traded hands during trading, a decline of 13% from the average daily volume of 270,214 shares. The stock had previously closed at $3.34.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. HC Wainwright reduced their price objective on shares of Beam Global from $30.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research report on Monday, November 18th.

Beam Global Stock Performance

The company has a market cap of $46.98 million, a PE ratio of -3.28 and a beta of 0.84. The stock’s 50-day simple moving average is $3.54 and its 200 day simple moving average is $4.67.

Institutional Investors Weigh In On Beam Global

A number of hedge funds have recently added to or reduced their stakes in BEEM. Green Alpha Advisors LLC increased its position in Beam Global by 28.1% during the 4th quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock worth $190,000 after purchasing an additional 13,162 shares during the period. XTX Topco Ltd boosted its stake in shares of Beam Global by 96.3% in the third quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock valued at $100,000 after buying an additional 9,975 shares in the last quarter. Calton & Associates Inc. acquired a new position in Beam Global during the third quarter worth $93,000. Virtue Capital Management LLC purchased a new position in Beam Global in the third quarter worth $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in Beam Global in the third quarter valued at $25,000. 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.