Beam Global (NASDAQ:BEEM) Receives “Hold” Rating from Needham & Company LLC

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

Beam Global Stock Performance

Shares of NASDAQ:BEEM opened at $1.57 on Monday. Beam Global has a one year low of $1.50 and a one year high of $7.68. The stock has a market capitalization of $23.20 million, a price-to-earnings ratio of -1.62 and a beta of 1.27. The company has a 50-day simple moving average of $2.18 and a 200-day simple moving average of $3.23.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings data on Friday, April 11th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.08). Beam Global had a negative net margin of 19.26% and a negative return on equity of 19.09%. The company had revenue of $11.94 million for the quarter, compared to analysts’ expectations of $12.99 million. As a group, research analysts forecast that Beam Global will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Beam Global

Institutional investors have recently bought and sold shares of the company. Virtue Capital Management LLC boosted its holdings in shares of Beam Global by 400.0% in the fourth quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $158,000 after acquiring an additional 40,000 shares in the last quarter. XTX Topco Ltd lifted its position in Beam Global by 106.0% in the fourth quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock valued at $133,000 after purchasing an additional 21,548 shares during the period. Northern Trust Corp boosted its holdings in Beam Global by 51.6% in the 4th quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock valued at $173,000 after purchasing an additional 18,628 shares in the last quarter. Green Alpha Advisors LLC increased its position in Beam Global by 28.1% during the 4th quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock worth $190,000 after purchasing an additional 13,162 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Beam Global during the 4th quarter worth approximately $39,000. 26.59% of the stock is owned by institutional investors and hedge funds.

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.