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

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

Analyst Ratings Changes

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

Beam Global Trading Down 2.9 %

Shares of BEEM opened at $2.67 on Monday. The business’s 50-day moving average price is $3.15 and its 200 day moving average price is $4.39. The stock has a market capitalization of $39.44 million, a P/E ratio of -2.75 and a beta of 0.84. Beam Global has a 1-year low of $2.60 and a 1-year high of $8.48.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Beam Global in the 3rd quarter valued at approximately $25,000. Virtue Capital Management LLC purchased a new position in Beam Global during the 3rd quarter worth approximately $49,000. Calton & Associates Inc. acquired a new stake in Beam Global during the 3rd quarter valued at $93,000. XTX Topco Ltd lifted 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 purchasing an additional 9,975 shares in the last quarter. Finally, Green Alpha Advisors LLC boosted its position in shares of Beam Global by 28.1% in the fourth quarter. Green Alpha Advisors LLC now owns 59,982 shares of the company’s stock worth $190,000 after buying an additional 13,162 shares during the period. 26.59% of the stock is owned by hedge funds and other 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.