Beam Global (NASDAQ:BEEM) Given “Hold” Rating at Needham & Company LLC

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports.

A number of other research analysts have also commented on the company. B. Riley lowered 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. 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.

Beam Global Stock Down 9.2 %

NASDAQ BEEM opened at $3.95 on Monday. Beam Global has a 12-month low of $3.89 and a 12-month high of $8.48. The company has a 50 day moving average price of $4.84 and a two-hundred day moving average price of $5.37. The stock has a market capitalization of $58.36 million, a PE ratio of -4.07 and a beta of 0.87.

Institutional Trading of Beam Global

Several hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. increased its position in Beam Global by 8.4% in the 1st quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock worth $6,688,000 after buying an additional 76,301 shares during the period. Vanguard Group Inc. boosted its holdings in Beam Global by 21.0% in the 1st quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after purchasing an additional 107,200 shares during the period. Oak Family Advisors LLC grew its position in Beam Global by 11.0% in the 2nd quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock worth $241,000 after purchasing an additional 5,181 shares during the last quarter. Green Alpha Advisors LLC grew its position in Beam Global by 16.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock worth $230,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Beam Global during the 1st quarter worth about $284,000. Institutional investors 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.