Stem (NYSE:STEM) Shares Down 4.2%

Stem, Inc. (NYSE:STEM)’s share price fell 4.2% during trading on Wednesday . The company traded as low as $4.76 and last traded at $4.80. 1,404,060 shares traded hands during trading, a decline of 73% from the average session volume of 5,267,960 shares. The stock had previously closed at $5.01.

Analyst Ratings Changes

A number of research firms recently commented on STEM. Bank of America lifted their target price on Stem from $5.00 to $6.00 and gave the stock an “underperform” rating in a report on Thursday, July 20th. Janney Montgomery Scott initiated coverage on shares of Stem in a research note on Tuesday, June 6th. They set a “buy” rating and a $12.00 price objective on the stock. Piper Sandler started coverage on shares of Stem in a research note on Friday, June 23rd. They issued a “neutral” rating and a $6.00 target price for the company. Barclays began 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. Finally, Evercore ISI upped their price objective on shares of Stem from $11.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Stem presently has an average rating of “Moderate Buy” and a consensus target price of $10.97.

Stem Stock Performance

The company has a quick ratio of 1.52, a current ratio of 1.99 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $5.74. The firm has a market cap of $746.29 million, a PE ratio of -5.01 and a beta of 2.09.

Stem (NYSE:STEM) last announced its quarterly earnings data 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). Stem had a negative net margin of 22.92% and a negative return on equity of 26.21%. The firm had revenue of $92.95 million during the quarter, compared to analysts’ expectations of $94.19 million. Research analysts forecast that Stem, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling at Stem

In related news, CRO Alan Russo sold 13,427 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 value of $39,360.00. Following the completion of the sale, the director now owns 19,872 shares of the company’s stock, valued at approximately $127,180.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $87,275.50. Following the sale, the executive now directly owns 139,594 shares in the company, valued at approximately $907,361. The disclosure for this sale can be found here. 9.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Telemark Asset Management LLC increased its stake in Stem by 57.1% during the fourth quarter. Telemark Asset Management LLC now owns 550,000 shares of the company’s stock worth $4,917,000 after acquiring an additional 200,000 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in Stem by 47.4% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,197,157 shares of the company’s stock worth $19,643,000 after acquiring an additional 706,421 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Stem by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 218,046 shares of the company’s stock worth $1,949,000 after acquiring an additional 11,429 shares during the last quarter. Mizuho Markets Americas LLC acquired a new stake in Stem during the first quarter worth $1,792,000. Finally, SailingStone Capital Partners LLC acquired a new stake in Stem during the fourth quarter worth $34,000. 64.45% of the stock is currently owned by hedge funds and other institutional investors.

About Stem

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.