HC Wainwright Cuts Beam Global (NASDAQ:BEEM) Price Target to $8.00

Beam Global (NASDAQ:BEEM) had its price objective lowered by equities research analysts at HC Wainwright from $30.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 100.00% from the stock’s current price.

Several other analysts have also issued reports on the stock. B. Riley lowered their price target on shares of Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a report on Monday.

Beam Global Trading Down 8.0 %

Shares of BEEM stock traded down $0.35 on Tuesday, hitting $4.00. 220,658 shares of the stock were exchanged, compared to its average volume of 129,083. Beam Global has a one year low of $3.89 and a one year high of $8.48. The firm’s 50 day moving average is $4.86 and its two-hundred day moving average is $5.39. The firm has a market capitalization of $59.10 million, a PE ratio of -4.12 and a beta of 0.87.

Institutional Investors Weigh In On Beam Global

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Beam Global by 21.0% during the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after purchasing an additional 107,200 shares during the period. AWM Investment Company Inc. boosted 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 valued at $6,688,000 after buying an additional 76,301 shares during the period. Tidal Investments LLC purchased a new position in shares of Beam Global in the first quarter valued at about $284,000. Oak Family Advisors LLC raised its stake in shares of Beam Global by 11.0% during the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after acquiring an additional 5,181 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Beam Global in the second quarter worth about $48,000. 26.59% of the stock is currently owned by hedge funds and other institutional investors.

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.