Stem (NYSE:STEM) Shares Gap Up After Insider Buying Activity

Stem, Inc. (NYSE:STEM)’s share price gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $4.49, but opened at $4.69. Stem shares last traded at $4.84, with a volume of 646,724 shares changing hands.

Specifically, CRO Alan Russo sold 13,427 shares of the business’s stock in a transaction 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 completion of the sale, the executive now directly owns 139,594 shares of the company’s stock, valued at approximately $907,361. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CRO Alan Russo sold 13,427 shares of the company’s stock in a transaction 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 completion of the sale, the executive now directly owns 139,594 shares of the company’s stock, valued at approximately $907,361. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David S. Buzby purchased 62,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $4.82 per share, with a total value of $298,840.00. Following the completion of the transaction, the director now owns 620,711 shares in the company, valued at approximately $2,991,827.02. The disclosure for this purchase can be found here. Corporate insiders own 9.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on STEM shares. Barclays initiated 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 for the company. Janney Montgomery Scott initiated coverage on shares of Stem in a report on Tuesday, June 6th. They issued a “buy” rating and a $12.00 price objective on the stock. Morgan Stanley lowered shares of Stem from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $12.00 to $8.00 in a report on Wednesday, September 6th. Evercore ISI boosted their price objective on shares of Stem from $11.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Finally, Bank of America boosted their price objective on shares of Stem from $5.00 to $6.00 and gave the stock an “underperform” rating in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Stem has a consensus rating of “Moderate Buy” and an average price target of $10.97.

Stem Stock Up 7.8 %

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’s 50-day simple moving average is $5.92 and its 200 day simple moving average is $5.64.

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

Institutional Trading of Stem

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its stake in shares of Stem by 63.7% during the 2nd quarter. California State Teachers Retirement System now owns 176,580 shares of the company’s stock worth $1,010,000 after purchasing an additional 68,707 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Stem by 29.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 619,135 shares of the company’s stock worth $3,541,000 after purchasing an additional 142,289 shares during the last quarter. Wells Fargo & Company MN grew its stake in Stem by 8.1% in the 2nd quarter. Wells Fargo & Company MN now owns 852,628 shares of the company’s stock valued at $4,877,000 after buying an additional 63,984 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Stem by 109.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 29,465 shares of the company’s stock valued at $169,000 after buying an additional 15,429 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Stem in the 2nd quarter valued at $145,000. 64.45% of the stock is owned by institutional investors and hedge funds.

Stem Company 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.