HC Wainwright Lowers Beam Global (NASDAQ:BEEM) Price Target to $8.00

Beam Global (NASDAQ:BEEM) had its price target trimmed by HC Wainwright from $30.00 to $8.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

BEEM has been the subject of several other reports. B. Riley reduced their price objective on Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a report on Monday.

Beam Global Stock Up 0.5 %

BEEM stock opened at $4.08 on Tuesday. The firm has a market cap of $60.26 million, a PE ratio of -4.21 and a beta of 0.87. The business has a 50 day moving average of $4.79 and a 200-day moving average of $5.35. Beam Global has a 12-month low of $3.82 and a 12-month high of $8.48.

Institutional Investors Weigh In On Beam Global

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted 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 in the last quarter. Tidal Investments LLC purchased a new stake in shares of Beam Global during the first quarter worth $284,000. Oak Family Advisors LLC lifted 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 in the last quarter. Green Alpha Advisors LLC lifted its position in shares of Beam Global by 16.1% during the third quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock worth $230,000 after acquiring an additional 6,500 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Beam Global during the second quarter worth $48,000. Hedge funds and other 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.