Beam Global (NASDAQ:BEEM) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Beam Global (NASDAQ:BEEM) in a research report report published on Monday,Benzinga reports.

Several other research analysts also recently issued reports on BEEM. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Beam Global in a research note on Wednesday, August 14th. B. Riley cut their price target on Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th.

Beam Global Price Performance

Beam Global stock opened at $4.35 on Monday. The company has a market cap of $63.60 million, a P/E ratio of -4.48 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.79. Beam Global has a one year low of $3.89 and a one year high of $8.48. The business has a fifty day moving average of $4.86 and a two-hundred day moving average of $5.39.

Institutional Trading of Beam Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEEM. Vanguard Group Inc. increased its position in Beam Global by 21.0% during the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after purchasing an additional 107,200 shares in the last quarter. AWM Investment Company Inc. increased its position in Beam Global by 8.4% during the 1st quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock worth $6,688,000 after purchasing an additional 76,301 shares in the last quarter. Tidal Investments LLC purchased a new stake in Beam Global during the 1st quarter worth about $284,000. Oak Family Advisors LLC increased its position in Beam Global by 11.0% during the 2nd quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock worth $241,000 after purchasing an additional 5,181 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Beam Global during the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

About Beam Global

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.