Beam Global (NASDAQ:BEEM - Free Report) had its price objective decreased by HC Wainwright from $30.00 to $8.00 in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.
Several other research firms have also recently commented on BEEM. B. Riley lowered their target price on shares of Beam Global from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, August 14th. Needham & Company LLC reissued a "hold" rating on shares of Beam Global in a research report on Monday.
Check Out Our Latest Report on Beam Global
Beam Global Stock Performance
Beam Global stock traded down $0.40 during mid-day trading on Tuesday, reaching $3.95. 383,950 shares of the company were exchanged, compared to its average volume of 129,813. The firm's 50-day simple moving average is $4.84 and its two-hundred day simple moving average is $5.37. Beam Global has a twelve month low of $3.89 and a twelve month high of $8.48. The firm has a market cap of $58.36 million, a PE ratio of -4.07 and a beta of 0.87.
Institutional Trading of Beam Global
Several large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Beam Global in the third quarter valued at $25,000. XTX Topco Ltd bought a new position in Beam Global during the second quarter valued at about $48,000. Virtue Capital Management LLC bought a new position in Beam Global during the third quarter valued at about $49,000. Calton & Associates Inc. acquired a new stake in shares of Beam Global during the third quarter worth $93,000. Finally, Green Alpha Advisors LLC boosted its position in shares of Beam Global by 16.1% in the third quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company's stock worth $230,000 after buying an additional 6,500 shares during the period. 26.59% of the stock is currently owned by institutional investors and hedge funds.
Beam Global Company Profile
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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.
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