BEEM Stock Slides Close to 52-Week Low, Backlog Stands at $9 Million
Beam Global traded near $1.42 in midday New York action Friday, close to its 52-week low, after reporting a 51% drop in first-quarter revenue to $3.1 million and a net loss of $6.9 million. The company’s backlog rose to $9.0 million, but gross margin was negative and cash stood at $2.0 million as of March 31.