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

Beam Global (NASDAQ:BEEM) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 1,270,000 shares, an increase of 6.7% from the January 15th total of 1,190,000 shares. Based on an average daily volume of 260,400 shares, the short-interest ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

BEEM has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a research note on Monday, November 18th. HC Wainwright lowered their target price on shares of 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 Trading Up 0.1 %

NASDAQ:BEEM opened at $2.56 on Tuesday. The firm has a fifty day simple moving average of $2.94 and a 200-day simple moving average of $4.11. Beam Global has a 12 month low of $2.35 and a 12 month high of $7.68. The company has a market capitalization of $37.84 million, a P/E ratio of -2.62 and a beta of 0.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BEEM. Calton & Associates Inc. purchased a new position in shares of Beam Global during the third quarter worth $93,000. Capital Performance Advisors LLP purchased a new position in Beam Global in the third quarter valued at $25,000. XTX Topco Ltd increased its holdings in 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 buying an additional 9,975 shares in the last quarter. Virtue Capital Management LLC purchased a new position in Beam Global in the third quarter valued at $49,000. Finally, Green Alpha Advisors LLC increased its holdings in Beam Global by 28.1% in the fourth quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock valued at $190,000 after buying an additional 13,162 shares in the last quarter. Hedge funds and other institutional investors own 26.59% of the company’s stock.

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.