Stem (NYSE:STEM) Coverage Initiated by Analysts at Cowen

Cowen assumed coverage on shares of Stem (NYSE:STEMGet Rating) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $22.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Northland Securities began coverage on Stem in a research report on Wednesday, September 7th. They issued an outperform rating and a $24.00 target price on the stock. Morgan Stanley increased their target price on Stem from $13.00 to $20.00 and gave the stock an equal weight rating in a research report on Thursday, August 18th. Finally, Cowen began coverage on Stem in a research report on Thursday. They issued an outperform rating on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Stem currently has a consensus rating of Moderate Buy and an average price target of $21.75.

Stem Stock Performance

Shares of STEM opened at $14.94 on Thursday. The business’s fifty day moving average price is $13.65 and its 200 day moving average price is $10.36. Stem has a 12-month low of $5.72 and a 12-month high of $27.50. The stock has a market capitalization of $2.30 billion, a PE ratio of -20.19 and a beta of 2.33. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.40 and a quick ratio of 2.12.

Stem (NYSE:STEMGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.03). Stem had a return on equity of 2.83% and a net margin of 13.48%. The firm had revenue of $66.95 million for the quarter, compared to the consensus estimate of $59.96 million. Equities research analysts forecast that Stem will post -0.67 EPS for the current year.

Insider Activity

In other news, CEO John Eugene Carrington sold 28,570 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $8.92, for a total transaction of $254,844.40. Following the transaction, the chief executive officer now directly owns 354,973 shares of the company’s stock, valued at $3,166,359.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John Eugene Carrington sold 28,570 shares of Stem stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $8.92, for a total transaction of $254,844.40. Following the transaction, the chief executive officer now directly owns 354,973 shares of the company’s stock, valued at $3,166,359.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kim Homenock sold 26,702 shares of Stem stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $17.05, for a total value of $455,269.10. Following the transaction, the insider now directly owns 26,702 shares in the company, valued at $455,269.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 815,314 shares of company stock valued at $12,554,750. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STEM. Nisa Investment Advisors LLC grew its holdings in Stem by 232.3% during the second quarter. Nisa Investment Advisors LLC now owns 5,283 shares of the company’s stock worth $38,000 after acquiring an additional 3,693 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Stem in the 4th quarter valued at $49,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Stem in the 2nd quarter valued at $53,000. Point72 Hong Kong Ltd acquired a new position in shares of Stem in the 1st quarter valued at $67,000. Finally, Trexquant Investment LP acquired a new position in shares of Stem in the 2nd quarter valued at $73,000. 52.42% of the stock is owned by institutional investors and hedge funds.

About Stem

(Get Rating)

Stem, Inc operates as a digitally connected and intelligent energy storage network provider in the United States and internationally. It offers energy storage systems sourced from original equipment manufacturers (OEMs). The company also provides Athena, an artificial intelligence platform, which offers battery hardware and software-enabled services to operate the energy storage systems.

See Also

Analyst Recommendations for Stem (NYSE:STEM)

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