Beam Global (NASDAQ:BEEM) Sees Large Decline in Short Interest

Beam Global (NASDAQ:BEEM) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 1,540,000 shares, a drop of 8.3% from the May 31st total of 1,680,000 shares. Based on an average daily trading volume, of 107,700 shares, the days-to-cover ratio is presently 14.3 days.

Beam Global Trading Down 3.0 %

Shares of BEEM stock traded down $0.14 on Monday, hitting $4.47. 27,162 shares of the stock were exchanged, compared to its average volume of 109,595. The firm has a market capitalization of $64.99 million, a P/E ratio of -3.55 and a beta of 0.93. The business has a 50-day moving average of $5.92 and a 200 day moving average of $6.42. Beam Global has a fifty-two week low of $4.30 and a fifty-two week high of $12.57.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings data on Monday, May 20th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. The firm had revenue of $14.56 million for the quarter, compared to analyst estimates of $17.65 million. Beam Global had a negative return on equity of 30.53% and a negative net margin of 22.16%. As a group, research analysts forecast that Beam Global will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BEEM. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Wednesday, May 22nd. Roth Mkm reissued a “buy” rating and set a $9.00 price objective on shares of Beam Global in a report on Tuesday, April 23rd. B. Riley raised Beam Global to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Beam Global in a research note on Wednesday, May 22nd.

Hedge Funds Weigh In On Beam Global

A number of large investors have recently made changes to their positions in BEEM. Vanguard Group Inc. boosted its holdings in shares of Beam Global by 21.0% in the 1st 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 in the last quarter. AWM Investment Company Inc. boosted its holdings in shares of 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 acquiring an additional 76,301 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Beam Global during the 1st quarter valued at $284,000. Oak Family Advisors LLC acquired a new stake in shares of Beam Global during the 4th quarter valued at $264,000. Finally, Barclays PLC acquired a new stake in shares of Beam Global during the 3rd quarter valued at $128,000. Institutional investors own 26.59% of the company’s stock.

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.