The Goldman Sachs Group Trims Stem (NYSE:STEM) Target Price to $2.00

Stem (NYSE:STEM) had its price objective lowered by The Goldman Sachs Group from $2.50 to $2.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Stem from $2.50 to $1.85 and set a market perform rating on the stock in a research report on Friday, May 3rd. Piper Sandler decreased their target price on Stem from $3.00 to $2.00 and set a neutral rating for the company in a research note on Thursday, April 11th. Evercore ISI dropped their price target on Stem from $13.00 to $9.00 and set an outperform rating on the stock in a research report on Friday, May 3rd. Susquehanna decreased their price objective on Stem from $5.50 to $4.00 and set a positive rating for the company in a research report on Thursday, February 29th. Finally, TD Cowen dropped their target price on shares of Stem from $7.00 to $5.00 and set an outperform rating on the stock in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $4.77.

Stem Trading Up 5.8 %

STEM opened at $1.37 on Monday. The firm has a 50 day simple moving average of $1.93 and a 200 day simple moving average of $2.79. The company has a market cap of $215.36 million, a price-to-earnings ratio of -0.94 and a beta of 1.91. Stem has a fifty-two week low of $1.27 and a fifty-two week high of $7.79. 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 (NYSE:STEM) last posted its earnings results on Thursday, May 2nd. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.25). The company had revenue of $25.50 million for the quarter, compared to analyst estimates of $66.67 million. Stem had a negative return on equity of 34.37% and a negative net margin of 40.03%. Stem’s quarterly revenue was down 61.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. On average, sell-side analysts anticipate that Stem will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Stem

In other news, CEO John Eugene Carrington sold 194,171 shares of Stem stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 506,585 shares in the company, valued at approximately $937,182.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stem news, CRO Alan Russo sold 14,390 shares of the 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 transaction, the executive now directly owns 158,204 shares of the company’s stock, valued at approximately $501,506.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Eugene Carrington sold 194,171 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $1.85, for a total value of $359,216.35. Following the sale, the chief executive officer now owns 506,585 shares of the company’s stock, valued at approximately $937,182.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 130,418 shares of company stock worth $238,045 and have sold 772,268 shares worth $1,650,229. Corporate insiders own 10.17% of the company’s stock.

Hedge Funds Weigh In On Stem

Large investors have recently made changes to their positions in the company. abrdn plc bought a new position in Stem during the 4th quarter worth $40,000. Neuberger Berman Group LLC bought a new position in Stem during the fourth quarter worth about $41,000. Sequoia Financial Advisors LLC acquired a new stake in Stem in the 3rd quarter worth about $55,000. Horizon Family Wealth Inc. bought a new stake in Stem in the 3rd quarter valued at about $57,000. Finally, Wellington Wealth Strategies LLC. acquired a new position in shares of Stem during the 4th quarter worth approximately $66,000. 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.