Stem, Inc. (NYSE:STEM) CEO John Eugene Carrington Sells 194,171 Shares

Stem, Inc. (NYSE:STEM) CEO John Eugene Carrington sold 194,171 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $1.85, for a total value of $359,216.35. Following the sale, the chief executive officer now directly owns 506,585 shares in the company, valued at approximately $937,182.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

John Eugene Carrington also recently made the following trade(s):

• On Friday, March 8th, John Eugene Carrington sold 85,038 shares of Stem stock. The stock was sold at an average price of $2.19, for a total value of $186,233.22.
• On Tuesday, February 27th, John Eugene Carrington sold 13,863 shares of Stem stock. The stock was sold at an average price of $2.70, for a total value of $37,430.10.

Stem Stock Up 2.6 %

STEM opened at $1.40 on Tuesday. Stem, Inc. has a one year low of $1.36 and a one year high of $7.79. The business’s fifty day moving average is $1.98 and its two-hundred day moving average is $2.82. The company has a current ratio of 1.88, a quick ratio of 1.78 and a debt-to-equity ratio of 1.23.

Stem (NYSE:STEM) last released 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 return on equity of 34.37% and a negative net margin of 40.03%. The company had revenue of $25.50 million during the quarter, compared to analyst estimates of $66.67 million. During the same period last year, the firm earned ($0.29) earnings per share. The business’s revenue was down 61.9% compared to the same quarter last year. As a group, equities analysts forecast that Stem, Inc. will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Stem

Institutional investors have recently added to or reduced their stakes in the business. abrdn plc acquired a new stake in Stem during the fourth quarter worth about $40,000. Neuberger Berman Group LLC purchased a new position in Stem in the fourth quarter valued at about $41,000. Sequoia Financial Advisors LLC purchased a new position in Stem in the third quarter valued at about $55,000. Horizon Family Wealth Inc. purchased a new position in Stem in the third quarter valued at about $57,000. Finally, Wellington Wealth Strategies LLC. purchased a new position in Stem in the fourth quarter valued at about $66,000. 61.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on STEM. The Goldman Sachs Group lowered their target price on Stem from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday. Susquehanna lowered their target price on Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. Piper Sandler lowered their target price on Stem from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Evercore ISI decreased their price target on Stem from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, BMO Capital Markets decreased their price target on Stem from $2.50 to $1.85 and set a “market perform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.20.

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.