Beam Global (NASDAQ:BEEM) Short Interest Update

Beam Global (NASDAQ:BEEM) was the target of a significant growth in short interest in 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 presently 8.2 days.

Beam Global Stock Performance

NASDAQ:BEEM opened at $4.91 on Tuesday. Beam Global has a twelve month low of $4.30 and a twelve month high of $8.48. The company has a 50-day moving average of $5.26 and a 200-day moving average of $5.79. The company has a current ratio of 1.79, a quick ratio of 1.16 and a debt-to-equity ratio of 0.01. The firm has a market cap of $71.38 million, a price-to-earnings ratio of -3.78 and a beta of 0.87.

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

Institutional Investors Weigh In On Beam Global

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in shares of Beam Global in the 2nd quarter valued at about $48,000. Oak Family Advisors LLC increased its position in 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 buying an additional 5,181 shares during the last quarter. Tidal Investments LLC bought a new position in Beam Global during the first quarter valued at about $284,000. Vanguard Group Inc. lifted its position in shares of Beam Global by 21.0% in the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock worth $4,207,000 after buying an additional 107,200 shares during the last quarter. Finally, AWM Investment Company Inc. boosted its stake in shares of 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 in the last quarter. 26.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.