Q1 2024 EPS Estimates for Beam Global Reduced by Roth Capital (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM) – Investment analysts at Roth Capital dropped their Q1 2024 earnings per share estimates for Beam Global in a research report issued to clients and investors on Tuesday, April 23rd. Roth Capital analyst C. Irwin now forecasts that the company will post earnings per share of ($0.30) for the quarter, down from their prior forecast of ($0.24). The consensus estimate for Beam Global’s current full-year earnings is ($0.72) per share. Roth Capital also issued estimates for Beam Global’s Q2 2024 earnings at ($0.24) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.80) EPS and FY2025 earnings at $0.15 EPS.

BEEM has been the topic of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Thursday, April 18th. Roth Mkm reiterated a “buy” rating and set a $9.00 target price on shares of Beam Global in a research report on Tuesday. B. Riley cut their target price on Beam Global from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Beam Global in a research report on Thursday, April 18th.

Beam Global Stock Performance

Beam Global stock opened at $6.33 on Thursday. Beam Global has a 1-year low of $5.00 and a 1-year high of $13.66. The stock’s fifty day moving average is $6.68 and its two-hundred day moving average is $6.47.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings results on Tuesday, April 16th. The company reported ($0.51) earnings per share for the quarter. Beam Global had a negative net margin of 23.84% and a negative return on equity of 36.71%. The business had revenue of $20.03 million during the quarter.

Institutional Trading of Beam Global

A number of hedge funds and other institutional investors have recently made changes to their positions in BEEM. Oak Family Advisors LLC grew its holdings in shares of Beam Global by 26.7% during the first quarter. Oak Family Advisors LLC now owns 47,107 shares of the company’s stock worth $320,000 after buying an additional 9,921 shares during the last quarter. PFG Investments LLC grew its holdings in shares of Beam Global by 97.0% during the first quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after buying an additional 11,348 shares during the last quarter. AWM Investment Company Inc. grew its holdings in shares of Beam Global by 39.4% during the third quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock worth $4,372,000 after buying an additional 167,363 shares during the last quarter. Pathstone Family Office LLC grew its holdings in shares of Beam Global by 13.9% during the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock worth $139,000 after buying an additional 2,305 shares during the last quarter. Finally, Barclays PLC purchased a new position in shares of Beam Global during the third quarter worth about $128,000. 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.