Beam Global (NASDAQ:BEEM) Sees Large Decline in Short Interest

Beam Global (NASDAQ:BEEM) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,140,000 shares, a decrease of 10.2% from the November 15th total of 1,270,000 shares. Based on an average daily trading volume, of 130,700 shares, the days-to-cover ratio is presently 8.7 days.

Beam Global Stock Up 1.1 %

Shares of NASDAQ BEEM traded up $0.03 during midday trading on Monday, hitting $2.73. The stock had a trading volume of 30,834 shares, compared to its average volume of 137,626. The company has a market capitalization of $40.33 million, a PE ratio of -2.78 and a beta of 0.80. The stock has a 50 day simple moving average of $4.27 and a 200-day simple moving average of $5.02. Beam Global has a 1 year low of $2.62 and a 1 year high of $8.48.

Hedge Funds Weigh In On Beam Global

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Beam Global by 21.0% in the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after purchasing an additional 107,200 shares during the last quarter. Oak Family Advisors LLC increased its holdings in shares of Beam Global by 11.0% in the second quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock valued at $241,000 after purchasing an additional 5,181 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Beam Global in the second quarter valued at approximately $48,000. Green Alpha Advisors LLC increased its holdings in shares of Beam Global by 16.1% in the third 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 during the last quarter. Finally, Calton & Associates Inc. acquired a new stake in shares of Beam Global in the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BEEM. HC Wainwright lowered their price target on Beam Global from $30.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a research report on Monday, November 18th.

About Beam Global

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.