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

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BEEM shares. Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Beam Global in a research note on Wednesday, August 14th. Finally, B. Riley lowered their price objective on shares of Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th.

Beam Global Stock Up 0.2 %

Shares of BEEM stock traded up $0.01 during trading hours on Friday, reaching $4.24. The company had a trading volume of 351,448 shares, compared to its average volume of 103,121. The company has a market cap of $61.99 million, a price-to-earnings 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. Beam Global has a 12 month low of $3.89 and a 12 month high of $8.48. The business has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $5.41.

Institutional Investors Weigh In On Beam Global

A number of institutional investors and hedge funds have recently bought and sold shares of BEEM. XTX Topco Ltd boosted its holdings in Beam Global by 96.3% during the 3rd quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock worth $100,000 after acquiring an additional 9,975 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Beam Global during the third quarter valued at about $25,000. Calton & Associates Inc. purchased a new position in Beam Global during the third quarter worth about $93,000. Green Alpha Advisors LLC grew its position in Beam Global by 16.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 46,820 shares of the company’s stock worth $230,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Oak Family Advisors LLC increased its stake in Beam Global by 11.0% in the 2nd quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after buying an additional 5,181 shares during the last quarter. 26.59% of the stock is owned by hedge funds and other institutional investors.

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.