Short Interest in Beam Global (NASDAQ:BEEM) Grows By 6.7%

Beam Global (NASDAQ:BEEM) saw 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 days-to-cover ratio is presently 4.9 days.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a report on Monday, November 18th. HC Wainwright dropped their price objective on shares of Beam Global from $30.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th.

Beam Global Stock Up 0.4 %

Shares of NASDAQ BEEM traded up $0.01 during mid-day trading on Monday, reaching $2.56. 127,659 shares of the company were exchanged, compared to its average volume of 208,096. The firm has a 50-day moving average of $2.94 and a 200 day moving average of $4.13. Beam Global has a 1 year low of $2.35 and a 1 year high of $8.48. The stock has a market cap of $37.81 million, a price-to-earnings ratio of -2.64 and a beta of 0.85.

Institutional Trading of Beam Global

Institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Beam Global during the 3rd quarter worth approximately $25,000. Virtue Capital Management LLC purchased a new position in Beam Global in the third quarter worth $49,000. Dimensional Fund Advisors LP acquired a new position in shares of Beam Global during the fourth quarter worth $39,000. Calton & Associates Inc. purchased a new stake in shares of Beam Global during the 3rd quarter valued at $93,000. Finally, XTX Topco Ltd boosted its position in shares of Beam Global by 96.3% in the 3rd quarter. XTX Topco Ltd now owns 20,332 shares of the company’s stock worth $100,000 after purchasing an additional 9,975 shares in the last quarter. 26.59% of the stock is currently owned by institutional investors.

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.