HC Wainwright Comments on Beam Global’s Q2 2024 Earnings (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM) – Investment analysts at HC Wainwright upped their Q2 2024 earnings per share (EPS) estimates for shares of Beam Global in a report released on Wednesday, May 22nd. HC Wainwright analyst A. Dayal now forecasts that the company will post earnings of ($0.20) per share for the quarter, up from their prior forecast of ($0.30). HC Wainwright has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for Beam Global’s current full-year earnings is ($0.70) per share. HC Wainwright also issued estimates for Beam Global’s Q3 2024 earnings at ($0.17) EPS, Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.73) EPS, FY2025 earnings at $0.02 EPS and FY2027 earnings at $1.88 EPS.

Other research analysts have also issued reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a research report on Wednesday. B. Riley dropped their target price on Beam Global from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Roth Mkm restated a “buy” rating and set a $9.00 target price on shares of Beam Global in a research note on Tuesday, April 23rd.

Beam Global Stock Down 1.0 %

Shares of NASDAQ BEEM opened at $6.23 on Friday. The firm has a market cap of $90.57 million, a PE ratio of -4.79 and a beta of 0.92. Beam Global has a twelve month low of $5.00 and a twelve month high of $12.69. The business has a fifty day simple moving average of $6.34 and a two-hundred day simple moving average of $6.47.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Tuesday, April 16th. The company reported ($0.51) earnings per share for the quarter. The firm had revenue of $20.03 million for the quarter. Beam Global had a negative net margin of 22.16% and a negative return on equity of 30.53%.

Institutional Trading of Beam Global

A number of hedge funds have recently modified their holdings of the stock. Pathstone Family Office LLC boosted its stake in shares of Beam Global by 13.9% in 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. Oak Family Advisors LLC raised its holdings in Beam Global by 26.7% in the 1st quarter. Oak Family Advisors LLC now owns 47,107 shares of the company’s stock worth $320,000 after purchasing an additional 9,921 shares during the period. PFG Investments LLC raised its holdings in Beam Global by 97.0% in the 1st quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after purchasing an additional 11,348 shares during the period. Barclays PLC acquired a new position in Beam Global in the 3rd quarter worth about $128,000. Finally, Jump Financial LLC acquired a new position in Beam Global in the 3rd quarter worth about $130,000. Hedge funds and other institutional investors 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.