Stem (NYSE:STEM) Shares Gap Up Following Analyst Upgrade

Stem, Inc. (NYSE:STEMGet Free Report) gapped up prior to trading on Friday after Evercore ISI raised their price target on the stock from $11.00 to $17.00. The stock had previously closed at $4.84, but opened at $5.01. Evercore ISI currently has an outperform rating on the stock. Stem shares last traded at $4.84, with a volume of 610,224 shares.

A number of other brokerages have also recently issued reports on STEM. Morgan Stanley cut Stem from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $12.00 to $8.00 in a report on Wednesday. Piper Sandler initiated coverage on shares of Stem in a report on Friday, June 23rd. They issued a “neutral” rating and a $6.00 target price on the stock. Barclays assumed coverage on shares of Stem in a research report on Wednesday, August 30th. They set an “equal weight” rating and a $6.00 price target on the stock. Janney Montgomery Scott assumed coverage on Stem in a research note on Tuesday, June 6th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Bank of America boosted their target price on Stem from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.97.

Get Our Latest Analysis on Stem

Insiders Place Their Bets

In other news, Director Lisa L. Troe sold 6,150 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $6.40, for a total transaction of $39,360.00. Following the sale, the director now directly owns 19,872 shares of the company’s stock, valued at approximately $127,180.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CRO Alan Russo sold 13,427 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $6.50, for a total value of $87,275.50. Following the completion of the sale, the executive now owns 139,594 shares of the company’s stock, valued at $907,361. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lisa L. Troe sold 6,150 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $6.40, for a total transaction of $39,360.00. Following the sale, the director now directly owns 19,872 shares of the company’s stock, valued at approximately $127,180.80. The disclosure for this sale can be found here. Company insiders own 9.12% of the company’s stock.

Hedge Funds Weigh In On Stem

Institutional investors have recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. bought a new stake in Stem during the 2nd quarter worth approximately $25,000. SailingStone Capital Partners LLC bought a new position in shares of Stem in the fourth quarter worth $34,000. Exchange Traded Concepts LLC bought a new position in Stem in the 1st quarter valued at $53,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Stem during the second quarter valued at approximately $53,000. Finally, Aries Wealth Management purchased a new stake in Stem during the first quarter valued at about $57,000. 64.45% of the stock is owned by institutional investors and hedge funds.

Stem Stock Performance

The company has a market cap of $744.72 million, a P/E ratio of -4.74 and a beta of 2.09. The company’s fifty day moving average is $6.07 and its 200 day moving average is $5.84. The company has a current ratio of 1.99, a quick ratio of 1.52 and a debt-to-equity ratio of 1.01.

Stem (NYSE:STEMGet Free Report) last released its earnings results on Thursday, August 3rd. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.33). The business had revenue of $92.95 million during the quarter, compared to analysts’ expectations of $94.19 million. Stem had a negative return on equity of 26.21% and a negative net margin of 22.92%. As a group, equities analysts predict that Stem, Inc. will post -0.75 earnings per share for the current fiscal year.

Stem Company Profile

(Get Free Report)

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

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