Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) was the target of a significant drop in short interest in 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 volume of 107,700 shares, the short-interest ratio is presently 14.3 days.

Hedge Funds Weigh In On Beam Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC acquired a new position in shares of Beam Global in the 3rd quarter valued at $128,000. PFG Investments LLC boosted its stake in Beam Global by 97.0% in the 1st quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock worth $157,000 after purchasing an additional 11,348 shares during the period. Oak Family Advisors LLC acquired a new position in Beam Global in the 4th quarter worth $264,000. Tidal Investments LLC acquired a new position in Beam Global in the 1st quarter worth $284,000. Finally, Vanguard Group Inc. boosted its stake in Beam Global by 21.0% in the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after purchasing an additional 107,200 shares during the period. Institutional investors and hedge funds own 26.59% of the company’s stock.

Beam Global Price Performance

Shares of BEEM stock traded up $0.12 on Wednesday, hitting $5.39. The stock had a trading volume of 255,195 shares, compared to its average volume of 113,890. Beam Global has a twelve month low of $4.30 and a twelve month high of $12.57. The company has a fifty day moving average price of $5.86 and a two-hundred day moving average price of $6.40.

Beam Global (NASDAQ:BEEM) last announced its quarterly earnings results 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. Beam Global had a negative net margin of 22.16% and a negative return on equity of 30.53%. The company had revenue of $14.56 million during the quarter, compared to analyst estimates of $17.65 million. On average, equities research analysts forecast that Beam Global will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

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

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.