Beam Global (NASDAQ:BEEM) Price Target Cut to $25.00 by Analysts at BTIG Research

Beam Global (NASDAQ:BEEMGet Rating) had its target price cut by stock analysts at BTIG Research from $42.00 to $25.00 in a research report issued on Thursday, The Fly reports. BTIG Research’s price objective suggests a potential upside of 80.38% from the stock’s previous close.

NASDAQ:BEEM opened at $13.86 on Thursday. Beam Global has a twelve month low of $10.19 and a twelve month high of $41.05. The business has a 50 day moving average price of $18.08 and a two-hundred day moving average price of $18.72. The company has a market cap of $139.58 million, a P/E ratio of -18.99 and a beta of 0.40.

Beam Global (NASDAQ:BEEMGet Rating) last released its quarterly earnings results on Wednesday, March 30th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Beam Global had a negative return on equity of 23.30% and a negative net margin of 73.28%. The firm had revenue of $3.49 million for the quarter, compared to analyst estimates of $2.93 million. During the same period last year, the company earned ($0.34) EPS. As a group, research analysts forecast that Beam Global will post -0.66 EPS for the current year.

In related news, CEO Desmond C. Wheatley sold 1,500 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $22.33, for a total value of $33,495.00. Following the sale, the chief executive officer now owns 74,422 shares in the company, valued at approximately $1,661,843.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.85% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEEM. Citigroup Inc. boosted its stake in Beam Global by 147.4% in the third quarter. Citigroup Inc. now owns 1,034 shares of the company’s stock valued at $28,000 after buying an additional 616 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Beam Global by 90.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,463 shares of the company’s stock worth $47,000 after purchasing an additional 1,167 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Beam Global in the third quarter valued at approximately $66,000. Dark Forest Capital Management LP acquired a new stake in Beam Global in the third quarter valued at approximately $80,000. Finally, JNBA Financial Advisors purchased a new position in shares of Beam Global during the first quarter valued at approximately $82,000. 35.04% of the stock is currently owned by institutional investors.

About Beam Global (Get Rating)

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized products for electric vehicle (EV) charging infrastructure, outdoor media and branding, and energy security products. The company's product portfolio include EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide 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 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs.

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