Evercore ISI Trims Stem (NYSE:STEM) Target Price to $9.00

Stem (NYSE:STEM) had its target price lowered by analysts at Evercore ISI from $13.00 to $9.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler cut their price objective on shares of Stem from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Susquehanna reduced their price objective on Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $2.50 price objective (down previously from $5.50) on shares of Stem in a report on Friday, March 22nd. BMO Capital Markets dropped their target price on Stem from $4.00 to $3.25 and set a “market perform” rating for the company in a report on Thursday, February 29th. Finally, TD Cowen lowered their price objective on Stem from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.23.

Stem Stock Down 28.8 %

STEM opened at $1.36 on Friday. The business’s fifty day simple moving average is $1.98 and its 200 day simple moving average is $2.83. Stem has a 52 week low of $1.36 and a 52 week high of $7.79. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 1.23. The stock has a market cap of $214.57 million, a PE ratio of -0.94 and a beta of 1.91.

Stem (NYSE:STEM) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.25). The firm had revenue of $25.50 million for the quarter, compared to the consensus estimate of $66.67 million. Stem had a negative net margin of 40.03% and a negative return on equity of 34.37%. Stem’s revenue for the quarter was down 61.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) earnings per share. As a group, research analysts expect that Stem will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at Stem

In related news, COO Michael James Carlson sold 9,952 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $3.17, for a total transaction of $31,547.84. Following the completion of the transaction, the chief operating officer now owns 20,367 shares in the company, valued at $64,563.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Michael James Carlson sold 9,952 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $3.17, for a total transaction of $31,547.84. Following the transaction, the chief operating officer now owns 20,367 shares in the company, valued at $64,563.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schaefer sold 100,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $1.82, for a total transaction of $182,000.00. Following the completion of the transaction, the insider now directly owns 716,110 shares of the company’s stock, valued at $1,303,320.20. The disclosure for this sale can be found here. In the last three months, insiders have acquired 130,418 shares of company stock worth $238,045 and have sold 578,097 shares worth $1,291,013. Corporate insiders own 10.17% of the company’s stock.

Institutional Investors Weigh In On Stem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd boosted its holdings in shares of Stem by 289.5% during the 3rd quarter. Quadrature Capital Ltd now owns 51,895 shares of the company’s stock valued at $220,000 after buying an additional 38,570 shares in the last quarter. Lido Advisors LLC purchased a new position in shares of Stem during the third quarter valued at approximately $4,561,000. DNB Asset Management AS boosted its position in shares of Stem by 63.7% in the 4th quarter. DNB Asset Management AS now owns 126,568 shares of the company’s stock worth $491,000 after purchasing an additional 49,256 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Stem by 3.8% in the 3rd quarter. Deutsche Bank AG now owns 605,722 shares of the company’s stock worth $2,568,000 after buying an additional 22,222 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Stem during the 4th quarter valued at approximately $209,000. 61.63% of the stock is owned by hedge funds and other institutional investors.

About Stem

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.