Beam Global (NASDAQ:BEEM) Price Target Lowered to $40.00 at Maxim Group

Beam Global (NASDAQ:BEEMGet Rating) had its price target trimmed by Maxim Group from $50.00 to $40.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. BTIG Research dropped their price target on Beam Global from $42.00 to $25.00 in a research report on Thursday, May 26th. B. Riley initiated coverage on Beam Global in a research report on Friday, June 17th. They set a buy rating and a $23.00 price target on the stock.

Beam Global Stock Up 0.4 %

Shares of BEEM opened at $15.86 on Monday. The business’s 50 day moving average is $14.96 and its two-hundred day moving average is $15.86. Beam Global has a 52-week low of $10.19 and a 52-week high of $39.39. The firm has a market cap of $159.95 million, a price-to-earnings ratio of -17.05 and a beta of 0.28.

Beam Global (NASDAQ:BEEMGet Rating) last announced its earnings results on Tuesday, May 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). Beam Global had a negative net margin of 67.59% and a negative return on equity of 27.50%. The business had revenue of $3.77 million during the quarter, compared to analyst estimates of $3.10 million. On average, equities analysts expect that Beam Global will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BEEM. Wolff Wiese Magana LLC bought a new position in Beam Global during the 2nd quarter worth $28,000. Amalgamated Bank bought a new position in Beam Global during the 1st quarter worth $28,000. Newbridge Financial Services Group Inc. bought a new position in Beam Global during the 2nd quarter worth $31,000. Advisor Group Holdings Inc. grew its stake in Beam Global by 90.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,463 shares of the company’s stock worth $47,000 after buying an additional 1,167 shares during the last quarter. Finally, JNBA Financial Advisors bought a new position in Beam Global during the 1st quarter worth $82,000. 35.04% of the stock is currently owned by institutional investors.

About Beam Global

(Get Rating)

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized products for electric vehicle (EV) charging infrastructure, outdoor media and branding, and energy security products. The company's product portfolio include EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide 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 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs.

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