Short Interest in Beam Global (NASDAQ:BEEM) Increases By 14.2%

Beam Global (NASDAQ:BEEM) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,210,000 shares, an increase of 14.2% from the December 31st total of 1,060,000 shares. Based on an average trading volume of 217,300 shares, the short-interest ratio is currently 5.6 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Beam Global

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd raised its position in Beam Global by 96.3% during the third quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock valued at $100,000 after acquiring an additional 9,975 shares in the last quarter. Green Alpha Advisors LLC grew its stake in shares of Beam Global by 28.1% during the 4th quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock worth $190,000 after purchasing an additional 13,162 shares during the period. Calton & Associates Inc. purchased a new position in shares of Beam Global during the 3rd quarter valued at approximately $93,000. Virtue Capital Management LLC acquired a new position in shares of Beam Global in the 3rd quarter valued at $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in Beam Global during the third quarter worth $25,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

Beam Global Price Performance

NASDAQ BEEM opened at $2.67 on Monday. The company has a fifty day moving average of $3.15 and a 200 day moving average of $4.39. The company has a market capitalization of $39.44 million, a PE ratio of -2.75 and a beta of 0.84. Beam Global has a 1 year low of $2.60 and a 1 year 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.