B. Riley Equities Analysts Decrease Earnings Estimates for Beam Global (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM) – Analysts at B. Riley decreased their Q3 2024 earnings estimates for shares of Beam Global in a research note issued on Wednesday, August 14th. B. Riley analyst R. Pfingst now forecasts that the company will post earnings per share of ($0.16) for the quarter, down from their prior forecast of ($0.13). B. Riley currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Beam Global’s current full-year earnings is ($0.71) per share. B. Riley also issued estimates for Beam Global’s Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.86) EPS and FY2025 earnings at ($0.19) EPS.

A number of other analysts also recently commented on BEEM. Roth Mkm reiterated a “buy” rating and set a $9.00 target price on shares of Beam Global in a research report on Tuesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a research report on Wednesday. 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.

Beam Global Price Performance

BEEM opened at $5.20 on Friday. Beam Global has a 1-year low of $4.30 and a 1-year high of $8.94. The stock has a market cap of $75.59 million, a P/E ratio of -4.00 and a beta of 0.93. The stock’s 50 day simple moving average is $5.65 and its 200 day simple moving average is $6.27.

Beam Global (NASDAQ:BEEM) last issued its earnings results on Monday, May 20th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $17.65 million.

Institutional Investors Weigh In On Beam Global

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in shares of Beam Global in the second quarter worth $48,000. Oak Family Advisors LLC raised its stake in Beam Global by 11.0% in the 2nd quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after purchasing an additional 5,181 shares during the last quarter. Tidal Investments LLC purchased a new position in Beam Global in the 1st quarter valued at about $284,000. AWM Investment Company Inc. lifted its holdings in Beam Global by 8.4% in the 1st quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock valued at $6,688,000 after purchasing an additional 76,301 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Beam Global by 21.0% during 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 last quarter. Institutional investors and hedge funds own 26.59% of the company’s stock.

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.