Short Interest in Beam Global (NASDAQ:BEEM) Declines By 9.5%

Beam Global (NASDAQ:BEEM) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,330,000 shares, a decline of 9.5% from the October 15th total of 1,470,000 shares. Based on an average daily volume of 91,500 shares, the short-interest ratio is presently 14.5 days.

Institutional Investors Weigh In On Beam Global

Several large investors have recently modified their holdings of the company. XTX Topco Ltd boosted its position in Beam Global by 96.3% during the third quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock valued at $100,000 after acquiring an additional 9,975 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Beam Global in the 3rd quarter valued at about $25,000. Calton & Associates Inc. bought a new stake in shares of Beam Global during the 3rd quarter valued at about $93,000. Green Alpha Advisors LLC boosted its position in shares of Beam Global by 16.1% during the 3rd quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock valued at $230,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Oak Family Advisors LLC grew its stake in Beam Global by 11.0% during the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock worth $241,000 after purchasing an additional 5,181 shares during the period. 26.59% of the stock is currently owned by institutional investors and hedge funds.

Beam Global Trading Up 0.2 %

Shares of Beam Global stock traded up $0.01 during midday trading on Friday, reaching $4.24. The company had a trading volume of 351,448 shares, compared to its average volume of 103,121. The stock has a fifty day moving average price of $4.87 and a 200 day moving average price of $5.41. Beam Global has a fifty-two week low of $3.89 and a fifty-two week high of $8.48. The firm has a market cap of $61.99 million, a PE ratio of -4.37 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.79 and a quick ratio of 1.16.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. B. Riley dropped their price objective on shares of Beam Global from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Beam Global in a research note on Wednesday, August 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a report on Wednesday, August 14th.

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.