Beam Global (NASDAQ:BEEM) Receives Buy Rating from HC Wainwright

Beam Global (NASDAQ:BEEM)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $30.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 383.87% from the company’s current price.

Beam Global Price Performance

Shares of BEEM stock opened at $6.20 on Thursday. The stock has a market cap of $88.23 million, a P/E ratio of -4.22 and a beta of 0.82. The company has a fifty day moving average price of $6.81 and a two-hundred day moving average price of $6.50. Beam Global has a one year low of $5.00 and a one year high of $13.66.

Institutional Trading of Beam Global

A number of large investors have recently added to or reduced their stakes in BEEM. FMR LLC lifted its stake in Beam Global by 2,800.0% in the first quarter. FMR LLC now owns 2,001 shares of the company’s stock valued at $32,000 after acquiring an additional 1,932 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Beam Global by 960.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,902 shares of the company’s stock valued at $40,000 after purchasing an additional 3,534 shares during the period. Quarry LP bought a new position in shares of Beam Global in the second quarter valued at about $67,000. Virtue Capital Management LLC bought a new position in shares of Beam Global in the fourth quarter valued at about $71,000. Finally, OLD Mission Capital LLC bought a new position in shares of Beam Global in the fourth quarter valued at about $75,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

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.