Stem (NYSE:STEM) Sets New 12-Month Low at $14.56

Stem, Inc. (NYSE:STEM) shares hit a new 52-week low during trading on Friday . The company traded as low as $14.56 and last traded at $14.67, with a volume of 38020 shares trading hands. The stock had previously closed at $15.07.

Separately, Wolfe Research initiated coverage on shares of Stem in a research report on Monday, November 22nd. They set an “outperform” rating and a $35.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Stem currently has a consensus rating of “Buy” and an average target price of $37.40.

The stock’s 50 day simple moving average is $20.01 and its 200-day simple moving average is $23.93.

Stem (NYSE:STEM) last posted its earnings results on Tuesday, November 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.12. The business had revenue of $39.83 million during the quarter.

In other news, COO Mark William Triplett sold 5,000 shares of the business’s stock in a transaction on Monday, January 3rd. The shares were sold at an average price of $19.22, for a total value of $96,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Adam Daley sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 1st. The stock was sold at an average price of $21.13, for a total transaction of $2,113,000.00. The disclosure for this sale can be found here. Insiders sold 333,281 shares of company stock valued at $7,694,724 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors have recently modified their holdings of STEM. Vanguard Group Inc. acquired a new stake in shares of Stem in the second quarter worth $354,799,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Stem in the second quarter worth $265,445,000. William Blair Investment Management LLC acquired a new stake in shares of Stem in the second quarter worth $188,719,000. General Electric Co. acquired a new position in Stem during the 3rd quarter valued at $56,378,000. Finally, Invesco Ltd. raised its stake in Stem by 158.2% during the 3rd quarter. Invesco Ltd. now owns 3,603,251 shares of the company’s stock valued at $86,081,000 after purchasing an additional 2,207,792 shares during the last quarter. Institutional investors and hedge funds own 40.88% of the company’s stock.

Stem Company Profile (NYSE:STEM)

Stem, Inc operates as an energy technology company in the United States. The company offers energy storage solutions with Athena, an artificial intelligence powered analytics platform to optimize energy use by automatically switching between battery power, onsite generation, and grid power. It serves commercial and industrial enterprises, independent power producers, renewable project developers, utilities, and grid operators.

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