Freedom Broker analyst Dmitriy Pozdnyakov downgraded Beam Global (BEEM) to Hold from Buy with a price target of $1.50, down from $2. The firm cites the company’s revenue decline and negative margins in Q1 for the downgrade. Beam needs to show “stronger backlog conversion, margin recovery and a clearer path to sustainable cash generation,” the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BEEM:
- Beam Global reports Q1 EPS (33c) vs. ($1.04) last year
- Beam Global plans new headquarters after lease termination
- Beam Global granted new U.S. patent by USPTO
- Beam Global’s EV ARC charging systems selected by Stanislaus County, CA
- Beam Global announces deployment of six EV AR solar-powered EVs charging systems