NASDAQ BEEM’s Shares Witness A Strong Start At $15.91
NASDAQ BEEM, the green technology company responsible for producing solar-powered charging stations and EV charging solutions, opened strongly at $15.91 on Monday. The company is currently trading with a market capitalization of $160.69 million, a price-to-earnings ratio of -8.12, and a beta of 0.52.
Despite having experienced turbulent times in the past year with one-year lows of $8.90 to one-year highs of $26.09, the stock has been showing steady growth lately thanks to its demand in the green tech sector.
Several experts in equities research have given their opinions on BEEM’s potential; Needham & Company LLC issued a “hold” rating while Northland Securities proved more optimistic by asserting an “outperform” rating and gave a target price of $25 forthe company.
The average rating for the stock has been determined as “Moderate Buy” alongside the consensus target price of $26.33 according to Bloomberg.com.
On another note, several hedge funds have recently made changes regarding their investment portfolio by adding stocks from NASDAQ BEEM into it.DekaBank Deutsche Girozentrale was recorded by acquiring a new position in Beam Global during Q3 with a value worth approximately $25,000.Citigroup Inc., Advisor Group Holdings Inc., Marshall Wace LLP, and Cetera Investment Advisers also showed interest in investing in Beam Global.
Moreover , Based on recent statistics released by the United States Department of Energy (DOE), an estimated 2 million electric vehicles were sold worldwide during the year 2019 alone – that’s about triple the number sold just four years earlier in 2015 – leading to greater demand for quality EV charging solutions throughout different regions globally.
Overall, with good ratings and attractive target prices assigned to it along with its recent market growth, NASDAQ BEEM is expected to continue riding the green energy wave towards more growth opportunities in the future.
Beam Global’s Future Earnings Projections and Insider Trading Activity
Beam Global, a technology company that designs and produces solar-powered charging stations for electric vehicles, has recently been in the news regarding its future earnings projections. HC Wainwright, a prominent equity research firm, has released Q1 2023 EPS estimates for Beam Global in a note issued on March 31st. According to HC Wainwright analyst A. Dayal’s predictions, the company is expected to post earnings per share of ($0.39) for the quarter. Furthermore, based on consensus estimates for Beam Global’s current full-year earnings, it is projected that the company will earn ($1.37) per share.
HC Wainwright has also issued estimates for the company’s future earnings projections up until FY2027. These include Q2 2023 earnings at ($0.37) EPS, Q3 2023 earnings at ($0.26) EPS, and Q4 2023 earnings at ($0.06) EPS. However, things seem to take a turn from thereon onwards as per their estimates; Beam Global is anticipated to generate an impressive $1.91 EPS in FY2026 and progress further with FY2027 projecting $2.38 EPS.
In related news concerning insider trading activity by top-level personalities of the organization, CEO Desmond C Wheatley sold around 5 thousand shares of its stock in late February this year at an average price of $16.56 per share—an amount totaling to roughly $82 thousand dollars overall—according to a filing with the Securities & Exchange Commission (SEC). Following this transaction, Wheatley now owns around 103 thousand shares of Beam Global directly valued at over $1.7 million dollars.
As an innovative company catering towards sustainable initiatives such as EVs and smart city solutions partnering with organizations worldwide like BMW Group Korea or even being invited on popular shows like Shark Tank as mentioned in previous reports could potentially help boost their revenue proposition moving forward. As always, the accuracy of the projected numbers relies heavily upon various factors ranging from company performances to general global economic trends. However, given their consistent growth and exceptional endeavors towards alternative energy setups, it will be nothing short of interesting to witness how this turns out for Beam Global in the years to come.