Beam Global (NASDAQ:BEEM) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Beam Global (NASDAQ:BEEM) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Freedom Capital upgraded shares of Beam Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Wall Street Zen upgraded Beam Global from a “strong sell” rating to a “sell” rating in a report on Monday, June 8th. Finally, Weiss Ratings raised Beam Global from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Beam Global presently has a consensus rating of “Hold”.

Beam Global Stock Performance

Shares of Beam Global stock opened at $1.04 on Wednesday. Beam Global has a 12 month low of $0.97 and a 12 month high of $4.04. The company has a quick ratio of 0.67, a current ratio of 1.47 and a debt-to-equity ratio of 0.01. The stock has a market cap of $23.09 million, a PE ratio of -1.08 and a beta of 1.42. The business has a fifty day simple moving average of $1.24 and a 200-day simple moving average of $1.47.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.15). The business had revenue of $3.13 million for the quarter, compared to analyst estimates of $7.33 million. Beam Global had a negative return on equity of 73.50% and a negative net margin of 73.22%. On average, sell-side analysts anticipate that Beam Global will post -0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BEEM. R Squared Ltd bought a new position in shares of Beam Global in the first quarter worth about $26,000. Quadrature Capital Ltd bought a new stake in Beam Global in the 4th quarter valued at $61,000. Virtue Capital Management LLC raised its stake in shares of Beam Global by 1,339.7% in the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $81,000 after buying an additional 46,527 shares in the last quarter. State Street Corp lifted its stake in Beam Global by 17.6% during the fourth quarter. State Street Corp now owns 58,228 shares of the company’s stock worth $87,000 after purchasing an additional 8,700 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Beam Global during the 3rd quarter worth approximately $102,000. 26.59% of the stock is owned by institutional investors.

About Beam Global

Beam Global (NASDAQ:BEEM) is a developer of solar-powered infrastructure solutions designed to support the transition to clean energy and electric transportation. Headquartered in California, the company specializes in producing off-grid EV charging units, solar canopy systems and energy storage solutions that can be rapidly deployed in urban, rural and remote environments. By integrating photovoltaic panels with battery storage and charging hardware, Beam Global’s products aim to reduce reliance on grid power and lower carbon emissions at charging locations.

The company’s flagship product, EV ARC, is a standalone, solar-powered electric vehicle fast-charging kiosk that requires no construction, trenching or utility upgrades.