Beam Global (NASDAQ:BEEM) Sees Significant Increase in Short Interest

Beam Global (NASDAQ:BEEM) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,210,000 shares, a growth of 14.2% from the December 15th total of 1,060,000 shares. Based on an average daily volume of 217,300 shares, the short-interest ratio is currently 5.6 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on BEEM shares. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a research note on Monday, November 18th. HC Wainwright cut their price target on Beam Global from $30.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th.

Beam Global Stock Down 6.5 %

BEEM stock traded down $0.21 during trading on Friday, reaching $3.03. The company’s stock had a trading volume of 236,241 shares, compared to its average volume of 313,074. Beam Global has a 1 year low of $2.62 and a 1 year high of $8.48. The company has a market capitalization of $44.75 million, a P/E ratio of -3.12 and a beta of 0.84. The company’s fifty day moving average is $3.43 and its 200-day moving average is $4.64.

Institutional Investors Weigh In On Beam Global

A number of institutional investors have recently bought and sold shares of BEEM. Green Alpha Advisors LLC increased its holdings in shares of Beam Global by 28.1% in the fourth quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock worth $190,000 after purchasing an additional 13,162 shares during the last quarter. Virtue Capital Management LLC bought a new stake in shares of Beam Global in the third quarter worth about $49,000. XTX Topco Ltd increased its holdings in shares of Beam Global by 96.3% in the third quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock worth $100,000 after purchasing an additional 9,975 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Beam Global in the third quarter worth about $25,000. Finally, Calton & Associates Inc. bought a new stake in shares of Beam Global in the third quarter worth about $93,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Beam Global Company Profile

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.