Beam Global (NASDAQ:BEEM) Price Target Cut to $15.00 by Analysts at B. Riley

Beam Global (NASDAQ:BEEM) had its price objective trimmed by B. Riley from $18.00 to $15.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. HC Wainwright reaffirmed a buy rating and set a $30.00 price target on shares of Beam Global in a research note on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of Beam Global in a report on Thursday.

Beam Global Stock Performance

Shares of BEEM stock opened at $6.14 on Thursday. The stock has a fifty day moving average price of $6.77 and a 200 day moving average price of $6.48. The stock has a market cap of $88.66 million, a PE ratio of -4.18 and a beta of 0.82. Beam Global has a 1 year low of $5.00 and a 1 year high of $13.66.

Hedge Funds Weigh In On Beam Global

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Beam Global by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,011 shares of the company’s stock valued at $471,000 after acquiring an additional 1,205 shares during the last quarter. Citigroup Inc. lifted its holdings in Beam Global by 56.6% in the 1st quarter. Citigroup Inc. now owns 5,171 shares of the company’s stock valued at $106,000 after purchasing an additional 1,869 shares in the last quarter. FMR LLC boosted its stake in shares of Beam Global by 67.4% during the 3rd quarter. FMR LLC now owns 4,747 shares of the company’s stock worth $35,000 after purchasing an additional 1,912 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Beam Global by 1.3% during the first quarter. BlackRock Inc. now owns 160,651 shares of the company’s stock worth $2,556,000 after buying an additional 2,113 shares in the last quarter. Finally, Pathstone Family Office LLC raised its position in shares of Beam Global by 13.9% in the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock valued at $139,000 after buying an additional 2,305 shares during the last quarter. 26.59% of the stock is owned by institutional investors and hedge funds.

Beam Global Company Profile

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized infrastructure products for electric vehicle (EV) charging infrastructure, energy storage, energy security, disaster preparedness, and outdoor media advertising. The company's product portfolio includes 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.