Short Interest in Beam Global (NASDAQ:BEEM) Declines By 14.4%

Beam Global (NASDAQ:BEEM) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,310,000 shares, a decrease of 14.4% from the August 15th total of 1,530,000 shares. Based on an average daily trading volume, of 181,900 shares, the days-to-cover ratio is currently 7.2 days.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BEEM. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Beam Global in a research report on Wednesday, August 14th. Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a research report on Wednesday, August 14th. Finally, B. Riley dropped their target price on Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th.

Beam Global Trading Up 1.3 %

Beam Global stock traded up $0.07 during trading hours on Monday, hitting $5.36. The stock had a trading volume of 62,217 shares, compared to its average volume of 137,052. The company has a quick ratio of 1.16, a current ratio of 1.79 and a debt-to-equity ratio of 0.01. The stock has a market cap of $77.92 million, a price-to-earnings ratio of -4.12 and a beta of 0.87. Beam Global has a one year low of $4.30 and a one year high of $8.48. The business’s 50 day simple moving average is $5.55 and its 200-day simple moving average is $5.93.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. Beam Global had a negative return on equity of 29.07% and a negative net margin of 25.27%. The company had revenue of $14.81 million during the quarter, compared to the consensus estimate of $16.30 million. On average, equities analysts predict that Beam Global will post -0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Beam Global

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Beam Global during the second quarter worth about $48,000. Oak Family Advisors LLC raised its position in shares of Beam Global by 11.0% during the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock worth $241,000 after acquiring an additional 5,181 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Beam Global during the first quarter worth about $284,000. Vanguard Group Inc. raised its position in shares of Beam Global by 21.0% during the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after acquiring an additional 107,200 shares during the last quarter. Finally, AWM Investment Company Inc. raised its position in shares of Beam Global by 8.4% during the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock worth $6,688,000 after acquiring an additional 76,301 shares during the last quarter. 26.59% of the stock is currently owned by 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.