Evercore ISI Lowers Stem (NYSE:STEM) Price Target to $9.00

Stem (NYSE:STEM) had its target price decreased by Evercore ISI from $13.00 to $9.00 in a report published on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

STEM has been the subject of several other reports. BMO Capital Markets dropped their price target on Stem from $4.00 to $3.25 and set a market perform rating for the company in a research note on Thursday, February 29th. TD Cowen cut their price target on shares of Stem from $7.00 to $5.00 and set an outperform rating on the stock in a report on Thursday, February 29th. Piper Sandler dropped their price objective on shares of Stem from $3.00 to $2.00 and set a neutral rating for the company in a research report on Thursday, April 11th. The Goldman Sachs Group reissued a neutral rating and issued a $2.50 price objective (down from $5.50) on shares of Stem in a research report on Friday, March 22nd. Finally, Susquehanna lowered their target price on Stem from $5.50 to $4.00 and set a positive rating for the company in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $5.23.

Stem Trading Down 28.8 %

Shares of STEM stock traded down $0.55 during trading hours on Friday, hitting $1.36. 16,214,125 shares of the company were exchanged, compared to its average volume of 3,554,499. The firm has a fifty day moving average of $1.98 and a 200 day moving average of $2.83. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 1.23. Stem has a 1 year low of $1.36 and a 1 year high of $7.79. The firm has a market cap of $214.57 million, a PE ratio of -0.94 and a beta of 1.91.

Stem (NYSE:STEM) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.25). Stem had a negative net margin of 40.03% and a negative return on equity of 34.37%. The company had revenue of $25.50 million during the quarter, compared to analyst estimates of $66.67 million. During the same quarter last year, the business earned ($0.29) EPS. The firm’s revenue for the quarter was down 61.9% compared to the same quarter last year. Analysts expect that Stem will post -0.51 earnings per share for the current year.

Insider Transactions at Stem

In other news, CRO Alan Russo sold 14,390 shares of Stem stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $45,616.30. Following the completion of the transaction, the executive now owns 158,204 shares in the company, valued at approximately $501,506.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CRO Alan Russo sold 14,390 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $3.17, for a total transaction of $45,616.30. Following the sale, the executive now owns 158,204 shares in the company, valued at $501,506.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Saul R. Laureles sold 10,959 shares of Stem stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $3.17, for a total value of $34,740.03. Following the completion of the transaction, the insider now owns 80,003 shares of the company’s stock, valued at $253,609.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 130,418 shares of company stock valued at $238,045 and have sold 578,097 shares valued at $1,291,013. Corporate insiders own 10.17% of the company’s stock.

Institutional Investors Weigh In On Stem

Hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in shares of Stem in the 1st quarter worth about $513,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Stem by 90.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,575 shares of the company’s stock valued at $487,000 after buying an additional 105,643 shares during the last quarter. SCP Investment LP boosted its position in shares of Stem by 4.7% during the fourth quarter. SCP Investment LP now owns 172,600 shares of the company’s stock worth $734,000 after buying an additional 7,800 shares during the period. Virtu Financial LLC bought a new position in Stem in the 4th quarter worth approximately $228,000. Finally, Clarity Capital Partners LLC acquired a new stake in Stem in the 4th quarter valued at approximately $392,000. 61.63% of the stock is currently owned by institutional investors.

About Stem

Stem, Inc operates as a digitally connected, intelligent, and renewable energy storage network provider worldwide. The company offers energy storage hardware sourced from original equipment manufacturers (OEMs); edge hardware to aid in the collection of site data and real-time operation and control of the site and other optional equipment; and Athena, a software platform, which offers battery hardware and software-enabled services to operate the energy storage systems.