Q1 2024 EPS Estimates for Beam Global (NASDAQ:BEEM) Cut by Analyst

Beam Global (NASDAQ:BEEM) – Roth Capital reduced their Q1 2024 EPS estimates for Beam Global in a research note issued on Tuesday, April 23rd. Roth Capital analyst C. Irwin now forecasts that the company will post earnings per share of ($0.30) for the quarter, down from their prior estimate of ($0.24). The consensus estimate for Beam Global’s current full-year earnings is ($0.84) per share. Roth Capital also issued estimates for Beam Global’s Q2 2024 earnings at ($0.24) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.80) EPS and FY2025 earnings at $0.15 EPS.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Tuesday, April 16th. The company reported ($0.51) earnings per share (EPS) for the quarter. The company had revenue of $20.03 million during the quarter. Beam Global had a negative return on equity of 36.71% and a negative net margin of 23.84%.

A number of other analysts also recently issued reports on the company. Roth Mkm restated a “buy” rating and issued a $9.00 price target on shares of Beam Global in a research report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research report on Thursday, April 18th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Beam Global in a research report on Thursday, April 18th. Finally, B. Riley lowered their price target on Beam Global from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, April 18th.

Beam Global Stock Up 1.7 %

Shares of BEEM opened at $6.54 on Thursday. The company has a market cap of $94.42 million, a PE ratio of -4.45 and a beta of 0.82. The business has a fifty day moving average of $6.63 and a 200 day moving average of $6.47. Beam Global has a 52-week low of $5.00 and a 52-week high of $13.66.

Institutional Investors Weigh In On Beam Global

Several large investors have recently added to or reduced their stakes in BEEM. AWM Investment Company Inc. boosted its position in Beam Global by 39.4% in the 3rd quarter. AWM Investment Company Inc. now owns 592,363 shares of the company’s stock valued at $4,372,000 after buying an additional 167,363 shares during the period. Oak Family Advisors LLC purchased a new stake in Beam Global in the 4th quarter valued at about $264,000. Calton & Associates Inc. purchased a new stake in Beam Global in the 3rd quarter valued at about $143,000. Jump Financial LLC purchased a new stake in Beam Global in the 3rd quarter valued at about $130,000. Finally, Barclays PLC purchased a new stake in Beam Global in the 3rd quarter valued at about $128,000. 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.