Beam Global (NASDAQ:BEEM) Short Interest Down 10.2% in November

Beam Global (NASDAQ:BEEM) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,140,000 shares, a drop of 10.2% from the November 15th total of 1,270,000 shares. Based on an average daily trading volume, of 130,700 shares, the short-interest ratio is presently 8.7 days.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. HC Wainwright decreased their price objective on shares of Beam Global from $30.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a report on Monday, November 18th.

Institutional Investors Weigh In On Beam Global

Large investors have recently added to or reduced their stakes in the company. Virtue Capital Management LLC purchased a new position in Beam Global in the 3rd quarter valued at about $49,000. XTX Topco Ltd boosted its holdings in 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 purchasing an additional 9,975 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Beam Global during the 3rd quarter valued at approximately $25,000. Calton & Associates Inc. purchased a new stake in Beam Global during the 3rd quarter worth approximately $93,000. Finally, Green Alpha Advisors LLC increased its holdings in 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 purchasing an additional 6,500 shares during the last quarter. 26.59% of the stock is owned by institutional investors and hedge funds.

Beam Global Price Performance

NASDAQ BEEM traded down $0.01 on Friday, reaching $2.70. The company had a trading volume of 185,812 shares, compared to its average volume of 138,169. The firm has a market capitalization of $39.89 million, a PE ratio of -2.78 and a beta of 0.80. The firm has a 50-day moving average of $4.27 and a 200-day moving average of $5.02. Beam Global has a 1 year low of $2.62 and a 1 year high of $8.48.

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.