Beam Global (NASDAQ:BEEM) Receives New Coverage from Analysts at B. Riley

B. Riley initiated coverage on shares of Beam Global (NASDAQ:BEEMGet Rating) in a report released on Friday morning, The Fly reports. The firm issued a buy rating and a $23.00 target price on the stock.

Separately, BTIG Research dropped their price objective on shares of Beam Global from $42.00 to $25.00 in a research note on Thursday, May 26th.

Shares of NASDAQ BEEM opened at $13.60 on Friday. Beam Global has a 52-week low of $10.19 and a 52-week high of $41.05. The firm has a 50 day moving average price of $16.98 and a 200 day moving average price of $16.97. The stock has a market cap of $137.09 million, a P/E ratio of -16.39 and a beta of 0.41.

Beam Global (NASDAQ:BEEMGet Rating) last announced its quarterly earnings data on Tuesday, May 24th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). Beam Global had a negative return on equity of 25.18% and a negative net margin of 66.88%. On average, analysts forecast that Beam Global will post -0.66 EPS for the current year.

In other Beam Global news, CEO Desmond C. Wheatley sold 1,500 shares of Beam Global stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $22.33, for a total value of $33,495.00. Following the completion of the sale, the chief executive officer now owns 74,422 shares in the company, valued at approximately $1,661,843.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.85% of the stock is owned by insiders.

Several large investors have recently modified their holdings of BEEM. Invesco Ltd. raised its position in shares of Beam Global by 16.0% in the 3rd quarter. Invesco Ltd. now owns 1,563,870 shares of the company’s stock valued at $42,803,000 after buying an additional 215,739 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Beam Global in the 4th quarter valued at approximately $2,396,000. Marshall Wace LLP acquired a new position in shares of Beam Global in the 4th quarter valued at approximately $1,423,000. Morgan Stanley grew its holdings in shares of Beam Global by 376.5% during the 2nd quarter. Morgan Stanley now owns 70,501 shares of the company’s stock valued at $2,701,000 after purchasing an additional 55,704 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Beam Global by 110.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,152 shares of the company’s stock valued at $1,782,000 after purchasing an additional 45,665 shares during the last quarter. Institutional investors own 35.04% of the company’s stock.

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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