Beam Global (NASDAQ:BEEM) Sees Large Increase in Short Interest

Beam Global (NASDAQ:BEEM) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,270,000 shares, an increase of 6.7% from the January 15th total of 1,190,000 shares. Based on an average daily volume of 260,400 shares, the short-interest ratio is presently 4.9 days.

Institutional Investors Weigh In On Beam Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Green Alpha Advisors LLC boosted its stake in shares of Beam Global by 28.1% in the fourth quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock worth $190,000 after acquiring an additional 13,162 shares during the period. Northern Trust Corp boosted its position in shares of Beam Global by 51.6% during the fourth quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock worth $173,000 after acquiring an additional 18,628 shares during the last quarter. XTX Topco Ltd increased its holdings in Beam Global by 106.0% in the 4th quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock valued at $133,000 after acquiring an additional 21,548 shares during the last quarter. Calton & Associates Inc. bought a new position in Beam Global during the third quarter valued at approximately $93,000. Finally, Dimensional Fund Advisors LP bought a new stake in Beam Global during the fourth quarter worth approximately $39,000. Institutional investors own 26.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BEEM shares. HC Wainwright lowered their price target on Beam Global from $30.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a report on Monday, November 18th.

Beam Global Stock Performance

Shares of NASDAQ BEEM traded up $0.01 during trading on Monday, hitting $2.56. The company had a trading volume of 127,659 shares, compared to its average volume of 208,096. The stock has a 50 day simple moving average of $2.94 and a 200 day simple moving average of $4.13. The firm has a market capitalization of $37.81 million, a P/E ratio of -2.64 and a beta of 0.85. Beam Global has a 12 month low of $2.35 and a 12 month high of $8.48.

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.