Beam Global’s (BEEM) Hold Rating Reaffirmed at Needham & Company LLC

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

Several other analysts also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Beam Global in a research note on Wednesday, August 14th. B. Riley reduced their target price 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.

Beam Global Price Performance

Shares of NASDAQ BEEM opened at $4.08 on Monday. The company has a market cap of $60.26 million, a P/E ratio of -4.21 and a beta of 0.87. Beam Global has a 1 year low of $3.82 and a 1 year high of $8.48. The firm has a 50-day simple moving average of $4.79 and a two-hundred day simple moving average of $5.35.

Hedge Funds Weigh In On Beam Global

Institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in Beam Global during the third quarter valued at approximately $25,000. XTX Topco Ltd purchased a new position in Beam Global in the second quarter worth $48,000. Virtue Capital Management LLC purchased a new position in Beam Global in the third quarter worth $49,000. Calton & Associates Inc. purchased a new position in Beam Global in the third quarter worth $93,000. Finally, Green Alpha Advisors LLC grew its holdings in Beam Global by 16.1% in the third quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock worth $230,000 after purchasing an additional 6,500 shares during the last quarter. 26.59% of the stock is 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.