Stem (NYSE:STEM) Price Target Cut to $9.00 by Analysts at Evercore ISI

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

A number of other equities analysts have also recently issued reports on STEM. Piper Sandler cut their price objective on shares of Stem from $3.00 to $2.00 and set a neutral rating on the stock in a research report on Thursday, April 11th. BMO Capital Markets decreased their price objective on Stem from $4.00 to $3.25 and set a market perform rating for the company in a report on Thursday, February 29th. TD Cowen lowered their target price on Stem from $7.00 to $5.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. Susquehanna reduced their price target on shares of Stem from $5.50 to $4.00 and set a positive rating for the company in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group restated a neutral rating and set a $2.50 price objective (down previously from $5.50) on shares of Stem in a report on Friday, March 22nd. One 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 company. Based on data from MarketBeat.com, Stem presently has a consensus rating of Hold and a consensus target price of $5.23.

Stem Trading Down 28.8 %

NYSE:STEM traded down $0.55 on Friday, reaching $1.36. 16,214,125 shares of the stock traded hands, compared to its average volume of 3,554,499. The firm has a market capitalization of $214.57 million, a price-to-earnings ratio of -0.94 and a beta of 1.91. Stem has a 1-year low of $1.36 and a 1-year high of $7.79. The company has a current ratio of 1.88, a quick ratio of 1.78 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average is $1.98 and its 200-day moving average is $2.83.

Stem (NYSE:STEM) last released its earnings results on Thursday, May 2nd. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.25). The business had revenue of $25.50 million for the quarter, compared to analyst estimates of $66.67 million. Stem had a negative return on equity of 34.37% and a negative net margin of 40.03%. The company’s revenue for the quarter was down 61.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) EPS. Equities research analysts anticipate that Stem will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Prakesh Patel sold 23,863 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $1.87, for a total transaction of $44,623.81. Following the completion of the sale, the insider now directly owns 181,668 shares of the company’s stock, valued at approximately $339,719.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Prakesh Patel sold 23,863 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $1.87, for a total transaction of $44,623.81. Following the transaction, the insider now owns 181,668 shares of the company’s stock, valued at approximately $339,719.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rahul Shukla sold 19,899 shares of Stem stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $2.19, for a total transaction of $43,578.81. Following the completion of the transaction, the chief accounting officer now owns 21,332 shares of the company’s stock, valued at approximately $46,717.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 130,418 shares of company stock worth $238,045 and have sold 578,097 shares worth $1,291,013. 10.17% of the stock is owned by corporate insiders.

Institutional Trading of Stem

A number of hedge funds and other institutional investors have recently bought and sold shares of STEM. Bank of New York Mellon Corp raised its stake in shares of Stem by 7.3% during the third quarter. Bank of New York Mellon Corp now owns 646,918 shares of the company’s stock worth $2,743,000 after acquiring an additional 43,859 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Stem by 16.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,187 shares of the company’s stock worth $149,000 after purchasing an additional 4,924 shares during the last quarter. SCP Investment LP raised its holdings in Stem by 303.9% in the third quarter. SCP Investment LP now owns 164,800 shares of the company’s stock worth $699,000 after buying an additional 124,000 shares during the last quarter. Olympiad Research LP bought a new position in Stem in the 3rd quarter valued at approximately $305,000. Finally, Principal Financial Group Inc. boosted its position in shares of Stem by 39.3% during the third quarter. Principal Financial Group Inc. now owns 21,067 shares of the company’s stock valued at $89,000 after buying an additional 5,941 shares during the last quarter. Institutional investors own 61.63% of the company’s stock.

Stem Company Profile

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.