Clear Harbor Asset Management LLC Has $53,000 Stake in Stem, Inc. (NYSE:STEM)

Clear Harbor Asset Management LLC trimmed its holdings in Stem, Inc. (NYSE:STEMFree Report) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,707 shares of the company’s stock after selling 5,676 shares during the period. Clear Harbor Asset Management LLC’s holdings in Stem were worth $53,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Stem by 3.4% during the 2nd quarter. Principal Financial Group Inc. now owns 21,593 shares of the company’s stock worth $155,000 after purchasing an additional 719 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Stem by 2.5% during the 1st quarter. California State Teachers Retirement System now owns 92,032 shares of the company’s stock worth $1,013,000 after purchasing an additional 2,277 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Stem by 11.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 27,874 shares of the company’s stock worth $159,000 after purchasing an additional 2,852 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Stem by 5.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 57,884 shares of the company’s stock worth $517,000 after acquiring an additional 3,031 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Stem by 9.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 40,946 shares of the company’s stock worth $451,000 after acquiring an additional 3,477 shares during the period. 61.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STEM shares. Morgan Stanley lowered their price objective on Stem from $7.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, December 8th. TD Cowen lowered their price objective on Stem from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group restated a “neutral” rating and set a $2.50 price objective (down previously from $5.50) on shares of Stem in a research note on Friday, March 22nd. Piper Sandler decreased their price target on Stem from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Finally, Susquehanna decreased their price target on Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.39.

View Our Latest Stock Analysis on STEM

Stem Stock Performance

NYSE STEM opened at $2.19 on Friday. 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 twelve month low of $1.73 and a twelve month high of $7.78. The business’s fifty day moving average is $2.63 and its 200 day moving average is $3.26.

Stem (NYSE:STEMGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.09). Stem had a negative net margin of 30.42% and a negative return on equity of 27.71%. The firm had revenue of $167.42 million for the quarter, compared to analyst estimates of $254.23 million. Equities analysts predict that Stem, Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Activity at Stem

In other Stem news, insider Robert Schaefer sold 100,000 shares of Stem 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 transaction, the insider now directly owns 716,110 shares of the company’s stock, valued at approximately $1,303,320.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Stem news, insider Saul R. Laureles sold 9,893 shares of Stem stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $3.23, for a total transaction of $31,954.39. Following the transaction, the insider now directly owns 56,226 shares of the company’s stock, valued at approximately $181,609.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schaefer sold 100,000 shares of Stem stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $1.82, for a total value of $182,000.00. Following the transaction, the insider now directly owns 716,110 shares in the company, valued at $1,303,320.20. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 130,418 shares of company stock valued at $238,045 and have sold 524,467 shares valued at $1,215,826. 9.12% of the stock is currently owned by company insiders.

About Stem

(Free Report)

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.

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Institutional Ownership by Quarter for Stem (NYSE:STEM)

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