Stem (NYSE:STEM) Price Target Cut to $2.00

Stem (NYSE:STEM) had its price target reduced by analysts at The Goldman Sachs Group from $2.50 to $2.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 54.44% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. TD Cowen dropped their price target on Stem from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Susquehanna lowered their price objective on Stem from $5.50 to $4.00 and set a “positive” rating for the company in a research note on Thursday, February 29th. Piper Sandler cut their target price 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. Evercore ISI decreased their price target on shares of Stem from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, BMO Capital Markets cut their price target on shares of Stem from $2.50 to $1.85 and set a “market perform” rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.20.

Stem Stock Down 7.5 %

NYSE STEM opened at $1.30 on Monday. The company has a market cap of $204.31 million, a price-to-earnings ratio of -0.89 and a beta of 1.91. Stem has a 1-year low of $1.28 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 has a 50 day moving average of $1.95 and a 200-day moving average of $2.80.

Stem (NYSE:STEM) last issued 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). Stem had a negative net margin of 40.03% and a negative return on equity of 34.37%. The firm had revenue of $25.50 million during the quarter, compared to analyst estimates of $66.67 million. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. Stem’s quarterly revenue was down 61.9% compared to the same quarter last year. On average, equities research analysts expect that Stem will post -0.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stem news, CRO Alan Russo sold 14,390 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $3.17, for a total value of $45,616.30. Following the sale, the executive now owns 158,204 shares in the company, valued at $501,506.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Stem news, CEO John Eugene Carrington sold 194,171 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $1.85, for a total transaction of $359,216.35. Following the completion of the sale, the chief executive officer now directly owns 506,585 shares in the company, valued at approximately $937,182.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Alan Russo sold 14,390 shares of Stem stock in a transaction on Friday, February 16th. The stock was sold at an average price of $3.17, for a total transaction of $45,616.30. Following the transaction, the executive now owns 158,204 shares in the company, valued at approximately $501,506.68. The disclosure for this sale can be found here. In the last quarter, insiders have bought 130,418 shares of company stock worth $238,045 and have sold 772,268 shares worth $1,650,229. Company insiders own 10.17% of the company’s stock.

Hedge Funds Weigh In On Stem

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

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.