HC Wainwright Reaffirms “Buy” Rating for Beam Global (NASDAQ:BEEM)

HC Wainwright reiterated their buy rating on shares of Beam Global (NASDAQ:BEEM) in a report issued on Wednesday, Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright also issued estimates for Beam Global’s Q2 2024 earnings at ($0.20) EPS, Q3 2024 earnings at ($0.17) EPS, Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.73) EPS, FY2025 earnings at $0.02 EPS, FY2026 earnings at $0.76 EPS, FY2027 earnings at $1.88 EPS and FY2028 earnings at $2.44 EPS.

Several other brokerages have also recently commented on BEEM. B. Riley cut their price target on shares of Beam Global from $18.00 to $15.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Needham & Company LLC reaffirmed a hold rating on shares of Beam Global in a report on Thursday, April 18th. Finally, Roth Mkm reaffirmed a buy rating and issued a $9.00 target price on shares of Beam Global in a report on Tuesday, April 23rd.

Beam Global Price Performance

Shares of NASDAQ:BEEM opened at $6.23 on Wednesday. The company’s 50-day moving average price is $6.34 and its two-hundred day moving average price is $6.47. Beam Global has a one year low of $5.00 and a one year high of $12.69. The stock has a market capitalization of $90.57 million, a PE ratio of -4.79 and a beta of 0.92.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Tuesday, April 16th. The company reported ($0.51) EPS for the quarter. Beam Global had a negative return on equity of 30.53% and a negative net margin of 22.16%. The business had revenue of $20.03 million for the quarter. On average, analysts anticipate that Beam Global will post -0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beam Global

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC acquired a new position in Beam Global in the 3rd quarter valued at about $128,000. Jump Financial LLC acquired a new position in Beam Global in the 3rd quarter valued at about $130,000. Pathstone Family Office LLC grew its stake in Beam Global by 13.9% in the 3rd 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. PFG Investments LLC grew its stake in Beam Global by 97.0% in the 1st quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock valued at $157,000 after buying an additional 11,348 shares during the last quarter. Finally, Oak Family Advisors LLC acquired a new position in Beam Global in the 4th quarter valued at about $264,000. 26.59% of the stock is owned by institutional investors.

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.