John Eugene Carrington Sells 194,171 Shares of Stem, Inc. (NYSE:STEM) Stock

Stem, Inc. (NYSE:STEM) CEO John Eugene Carrington sold 194,171 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $1.85, for a total value of $359,216.35. Following the completion of the sale, the chief executive officer now directly owns 506,585 shares of the company’s stock, valued at $937,182.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

John Eugene Carrington also recently made the following trade(s):

• On Friday, March 8th, John Eugene Carrington sold 85,038 shares of Stem stock. The shares were sold at an average price of $2.19, for a total value of $186,233.22.
• On Tuesday, February 27th, John Eugene Carrington sold 13,863 shares of Stem stock. The stock was sold at an average price of $2.70, for a total transaction of $37,430.10.

Stem Stock Up 5.8 %

NYSE:STEM opened at $1.37 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.88 and a quick ratio of 1.78. Stem, Inc. has a 1-year low of $1.27 and a 1-year high of $7.79. The company has a 50-day moving average of $1.93 and a 200 day moving average of $2.79. The firm has a market cap of $215.36 million, a PE ratio of -0.94 and a beta of 1.91.

Stem (NYSE:STEM) last posted its quarterly 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 business had revenue of $25.50 million during the quarter, compared to the consensus estimate of $66.67 million. During the same quarter in the prior year, the firm posted ($0.29) EPS. The company’s revenue for the quarter was down 61.9% compared to the same quarter last year. As a group, research analysts anticipate that Stem, Inc. will post -0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on STEM shares. The Goldman Sachs Group lowered their target price on shares of Stem from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Monday. Susquehanna cut their target price on Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. TD Cowen decreased 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. Evercore ISI cut their price objective on Stem from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Piper Sandler reduced their target price on Stem from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.77.

Institutional Trading of Stem

A number of hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd lifted its stake in shares of Stem by 289.5% during the 3rd quarter. Quadrature Capital Ltd now owns 51,895 shares of the company’s stock worth $220,000 after purchasing an additional 38,570 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of Stem in the 3rd quarter valued at about $4,561,000. DNB Asset Management AS raised its stake 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 worth $491,000 after acquiring an additional 49,256 shares in the last quarter. Deutsche Bank AG lifted its position in Stem by 3.8% during the third quarter. Deutsche Bank AG now owns 605,722 shares of the company’s stock valued at $2,568,000 after acquiring an additional 22,222 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Stem in the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 61.63% of the company’s stock.

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.