Beam Global (NASDAQ:BEEM) Short Interest Up 14.2% in January

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. HC Wainwright cut their price target on Beam Global from $30.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Beam Global in a report on Monday, November 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Beam Global during the third quarter valued at about $25,000. Virtue Capital Management LLC bought a new stake in shares of Beam Global during the 3rd quarter worth about $49,000. Calton & Associates Inc. acquired a new stake in shares of Beam Global in the 3rd quarter worth approximately $93,000. XTX Topco Ltd boosted 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 valued at $100,000 after acquiring an additional 9,975 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its stake in shares of Beam Global by 28.1% during the fourth quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock valued at $190,000 after acquiring an additional 13,162 shares during the period. Institutional investors and hedge funds own 26.59% of the company’s stock.

Beam Global Trading Down 2.9 %

Shares of NASDAQ BEEM opened at $2.67 on Monday. Beam Global has a 12-month low of $2.60 and a 12-month high of $8.48. The company has a market cap of $39.44 million, a PE ratio of -2.75 and a beta of 0.84. The stock has a 50 day simple moving average of $3.15 and a 200-day simple moving average of $4.39.

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.