Insider Selling: Beam Global (NASDAQ:BEEM) CEO Sells 3,250 Shares of Stock

Beam Global (NASDAQ:BEEM) CEO Desmond C. Wheatley sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, April 7th. The shares were sold at an average price of $39.80, for a total transaction of $129,350.00. Following the sale, the chief executive officer now owns 41,638 shares of the company’s stock, valued at $1,657,192.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Beam Global stock traded up $1.12 during mid-day trading on Thursday, reaching $40.08. 10,618 shares of the company’s stock traded hands, compared to its average volume of 629,792. The company has a market cap of $268.06 million and a price-to-earnings ratio of -50.73. The stock has a 50 day moving average of $42.64 and a two-hundred day moving average of $45.55. Beam Global has a 12-month low of $6.31 and a 12-month high of $75.90.

Beam Global (NASDAQ:BEEM) last released its quarterly earnings results on Monday, March 29th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.23). Beam Global had a negative net margin of 94.74% and a negative return on equity of 55.83%. As a group, sell-side analysts forecast that Beam Global will post -0.62 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new stake in shares of Beam Global in the fourth quarter valued at $37,000. Credit Agricole S A purchased a new stake in shares of Beam Global in the fourth quarter valued at $192,000. Kestra Advisory Services LLC purchased a new stake in shares of Beam Global in the fourth quarter valued at $287,000. One68 Global Capital LLC purchased a new stake in shares of Beam Global in the fourth quarter valued at $221,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Beam Global in the fourth quarter valued at $7,710,000. 26.38% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on BEEM shares. Maxim Group restated a “buy” rating and set a $90.00 target price on shares of Beam Global in a research report on Thursday, March 25th. Zacks Investment Research lowered shares of Beam Global from a “hold” rating to a “sell” rating in a research report on Tuesday. BTIG Research upped their price target on shares of Beam Global from $25.00 to $50.00 in a research report on Thursday, December 10th. Cowen assumed coverage on shares of Beam Global in a research report on Monday, March 15th. They issued a “market perform” rating and a $33.00 price target for the company. Finally, Roth Capital began coverage on shares of Beam Global in a research report on Friday, February 5th. They issued a “buy” rating and a $85.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.80.

Beam Global Company Profile

Beam Global, together with its subsidiary, invents, designs, engineers, manufactures, and sells solar powered products and proprietary technology solutions in the United States and internationally. The company focuses on creating renewably energized products for electric vehicle and drone charging, outdoor media and branding, and energy security.

Featured Story: What is meant by holder of record?

Receive News & Ratings for Beam Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beam Global and related companies with MarketBeat.com's FREE daily email newsletter.