Beam Global (BEEM) closed at $15.27 in the latest trading session, marking a +1.39% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Prior to today's trading, shares of the company had gained 5.46% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 12.31% and the S&P 500's loss of 4.02% in that time.
Wall Street will be looking for positivity from Beam Global as it approaches its next earnings report date. In that report, analysts expect Beam Global to post earnings of -$0.20 per share. This would mark year-over-year growth of 41.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.19 million, up 45.14% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Beam Global. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Beam Global is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BEEM in the coming trading sessions, be sure to utilize Zacks.com.
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Requiring no connection to the utility grid, Beam Global products eliminate disruptive construction projects, costly electric circuit upgrades and utility charges to deliver significant long-term savings to city budgets. Because there is no grid connection, EV charging systems are rapidly deployed, readily relocated and can be placed in locations where they are needed most.
“We are seeing more and more customers view rapid deployment and grid-impact as important when planning their EV charging infrastructure,” said Beam Global CEO Desmond Wheatley. “Federal, state and local governments are putting increasing emphasis on resilient EV charging as electricity becomes vital fuel for their communities and their fleet vehicles.”
Beam Global is a CleanTech leader that produces innovative, sustainable technology for electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption, risks and costs of grid-tied solutions. Products include the patented EV ARC™ and Solar Tree® lines with BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media and disaster preparedness packages.
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