Beam Global (NASDAQ:BEEM) Sees Significant Growth in Short Interest

Beam Global (NASDAQ:BEEM) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,490,000 shares, a growth of 13.7% from the August 31st total of 1,310,000 shares. Based on an average daily volume of 182,400 shares, the days-to-cover ratio is currently 8.2 days.

Analyst Ratings Changes

Several equities analysts recently commented on BEEM shares. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a research note on Wednesday, August 14th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Beam Global in a report on Wednesday, August 14th. Finally, B. Riley cut their price objective on Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th.

Beam Global Trading Down 1.4 %

Shares of BEEM stock traded down $0.07 during trading hours on Monday, hitting $4.92. 19,081 shares of the company’s stock traded hands, compared to its average volume of 133,498. The stock has a market cap of $71.52 million, a PE ratio of -3.84 and a beta of 0.87. The stock’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $5.81. The company has a quick ratio of 1.16, a current ratio of 1.79 and a debt-to-equity ratio of 0.01. Beam Global has a 12 month low of $4.30 and a 12 month high of $8.48.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Tuesday, August 13th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.06. The firm had revenue of $14.81 million for the quarter, compared to the consensus estimate of $16.30 million. Beam Global had a negative return on equity of 29.07% and a negative net margin of 25.27%. On average, sell-side analysts anticipate that Beam Global will post -0.86 EPS for the current year.

Institutional Trading of Beam Global

Several institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in shares of Beam Global in the 2nd quarter worth approximately $48,000. Tidal Investments LLC acquired a new position in Beam Global in the first quarter valued at $284,000. Oak Family Advisors LLC lifted its holdings in Beam Global by 11.0% in the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after buying an additional 5,181 shares during the period. Vanguard Group Inc. boosted its position in Beam Global by 21.0% during the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after acquiring an additional 107,200 shares during the last quarter. Finally, AWM Investment Company Inc. grew its holdings in Beam Global by 8.4% during the 1st 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 period. 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.