Beam Global (NASDAQ:BEEM) Expected to Post Earnings of -$0.22 Per Share

Equities analysts expect Beam Global (NASDAQ:BEEM) to post earnings of ($0.22) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Beam Global’s earnings. Beam Global posted earnings of ($0.17) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 29.4%. The firm is expected to issue its next earnings report on Thursday, November 11th.

According to Zacks, analysts expect that Beam Global will report full year earnings of ($0.78) per share for the current financial year, with EPS estimates ranging from ($0.79) to ($0.77). For the next year, analysts expect that the company will post earnings of ($0.60) per share. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Beam Global.

Beam Global (NASDAQ:BEEM) last issued its quarterly earnings results on Wednesday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). Beam Global had a negative net margin of 91.34% and a negative return on equity of 24.37%. The company had revenue of $2.12 million during the quarter, compared to the consensus estimate of $1.75 million.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Beam Global from a “hold” rating to a “sell” rating in a research note on Wednesday, August 18th. BTIG Research dropped their price objective on shares of Beam Global from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, August 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.80.

Several institutional investors have recently made changes to their positions in BEEM. BlackRock Inc. increased its position in shares of Beam Global by 284.0% during the 2nd quarter. BlackRock Inc. now owns 542,903 shares of the company’s stock worth $20,798,000 after purchasing an additional 401,511 shares in the last quarter. State Street Corp increased its position in shares of Beam Global by 4,755.9% during the 2nd quarter. State Street Corp now owns 271,931 shares of the company’s stock worth $10,418,000 after purchasing an additional 266,331 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Beam Global during the 1st quarter worth about $5,498,000. Vanguard Group Inc. grew its holdings in Beam Global by 35.1% during the 2nd quarter. Vanguard Group Inc. now owns 406,147 shares of the company’s stock worth $15,560,000 after acquiring an additional 105,627 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Beam Global by 150.6% during the 2nd quarter. Geode Capital Management LLC now owns 133,989 shares of the company’s stock worth $5,133,000 after acquiring an additional 80,530 shares during the last quarter. Institutional investors and hedge funds own 61.66% of the company’s stock.

Shares of BEEM stock traded up $0.18 during mid-day trading on Friday, reaching $30.88. The company’s stock had a trading volume of 10,870 shares, compared to its average volume of 387,668. Beam Global has a 1-year low of $14.15 and a 1-year high of $75.90. The company has a market cap of $206.53 million and a P/E ratio of -37.28. The firm’s 50-day moving average is $28.62 and its two-hundred day moving average is $31.28.

Beam Global Company Profile

Beam Global engages in the invention, design, engineering, manufacture, and sale of solar powered products. It offers solar powered products and proprietary technology solutions for electric vehicle charging infrastructure, out of home advertising platforms, and energy security and disaster preparedness.

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