Seven Eight Capital LP Acquires 105,107 Shares of Stem, Inc. (NYSE:STEM)

Seven Eight Capital LP lifted its holdings in shares of Stem, Inc. (NYSE:STEM) by 182.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 162,815 shares of the company’s stock after acquiring an additional 105,107 shares during the period. Seven Eight Capital LP owned approximately 0.11% of Stem worth $923,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SailingStone Capital Partners LLC acquired a new stake in shares of Stem during the 4th quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new stake in shares of Stem during the 1st quarter worth about $53,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Stem during the 2nd quarter worth about $53,000. Aries Wealth Management acquired a new stake in shares of Stem during the 1st quarter worth about $57,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in shares of Stem during the 1st quarter worth about $67,000. 64.45% of the stock is owned by institutional investors.

Stem Stock Down 1.2 %

Stem stock opened at $4.78 on Friday. The company’s 50 day simple moving average is $6.05 and its 200 day simple moving average is $5.81. Stem, Inc. has a fifty-two week low of $3.71 and a fifty-two week high of $18.02. The firm has a market capitalization of $744.72 million, a price-to-earnings ratio of -4.78 and a beta of 2.09. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.99 and a quick ratio of 1.52.

Stem (NYSE:STEM) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.33). Stem had a negative return on equity of 26.21% and a negative net margin of 22.92%. The firm had revenue of $92.95 million for the quarter, compared to the consensus estimate of $94.19 million. As a group, sell-side analysts anticipate that Stem, Inc. will post -0.88 EPS for the current year.

Insider Buying and Selling

In related news, Director Lisa L. Troe sold 6,150 shares of Stem 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 transaction, the director now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stem news, CRO Alan Russo sold 13,427 shares of Stem stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $6.50, for a total value of $87,275.50. Following the transaction, 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 accessible through this link. Also, Director Lisa L. Troe sold 6,150 shares of Stem 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 completion of the transaction, the director now directly owns 19,872 shares in the company, valued at approximately $127,180.80. The disclosure for this sale can be found here. 9.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on STEM shares. Bank of America raised their price objective on shares of Stem from $5.00 to $6.00 and gave the company an “underperform” rating in a research report on Thursday, July 20th. Janney Montgomery Scott started coverage on shares of Stem in a research report on Tuesday, June 6th. They issued a “buy” rating and a $12.00 price objective for the company. Barclays started coverage on shares of Stem in a research report on Wednesday, August 30th. They issued an “equal weight” rating and a $6.00 price objective for the company. Piper Sandler started coverage on shares of Stem in a research report on Friday, June 23rd. They issued a “neutral” rating and a $6.00 price objective for the company. Finally, Morgan Stanley cut shares of Stem from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $12.00 to $8.00 in a research report on Wednesday. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.97.

Stem Profile

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.