Maxim Group Reaffirms Their Buy Rating on Beam Global (BEEM)

Maxim Group analyst Tate Sullivan reiterated a Buy rating on Beam Global (BEEMResearch Report) yesterday and set a price target of $90.00. The company’s shares closed last Wednesday at $59.10.

According to TipRanks.com, Sullivan is a 5-star analyst with an average return of 30.4% and a 50.9% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Natural Gas Services Group, Ceco Environmental, and Capstone Turbine.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Beam Global with a $56.67 average price target.

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Based on Beam Global’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.24 million and GAAP net loss of $1.1 million. In comparison, last year the company earned revenue of $1.79 million and had a GAAP net loss of $610.4K.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BEEM in relation to earlier this year.

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