Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Stem, Inc. (NYSE:STEM)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Stem, Inc. (NYSE:STEM) by 24.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,693 shares of the company’s stock after purchasing an additional 8,506 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stem were worth $170,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of STEM. Quadrature Capital Ltd grew its holdings in Stem by 289.5% in the third 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 acquired a new position in Stem in the 3rd quarter worth approximately $4,561,000. DNB Asset Management AS raised its position in 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 buying an additional 49,256 shares during the last quarter. Deutsche Bank AG raised 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Stem during the 4th quarter valued at approximately $209,000. Institutional investors own 61.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STEM. Susquehanna decreased their target price on Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research report on Thursday, February 29th. BMO Capital Markets decreased their target price on shares of Stem from $2.50 to $1.85 and set a “market perform” rating on the stock in a report on Friday, May 3rd. TD Cowen cut their price target on shares of Stem from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. UBS Group lowered their price objective on Stem from $5.00 to $2.50 and set a “buy” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their target price on Stem from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.77.

Insider Transactions at Stem

In other Stem news, CAO Rahul Shukla sold 19,899 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $2.19, for a total transaction of $43,578.81. Following the completion of the transaction, the chief accounting officer now owns 21,332 shares in the company, valued at approximately $46,717.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO John Eugene Carrington sold 194,171 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 506,585 shares in the company, valued at approximately $937,182.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Rahul Shukla sold 19,899 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $2.19, for a total transaction of $43,578.81. Following the completion of the transaction, the chief accounting officer now directly owns 21,332 shares in the company, valued at $46,717.08. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 130,418 shares of company stock valued at $238,045 and sold 772,268 shares valued at $1,650,229. Corporate insiders own 10.17% of the company’s stock.

Stem Price Performance

Shares of STEM opened at $1.37 on Thursday. The company has a market cap of $215.36 million, a P/E ratio of -0.94 and a beta of 1.91. Stem, Inc. has a fifty-two week low of $1.27 and a fifty-two week high of $7.79. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 1.23. The firm’s 50 day moving average price is $1.93 and its 200 day moving average price is $2.79.

Stem (NYSE:STEM) last announced its quarterly earnings data 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). Stem had a negative net margin of 40.03% and a negative return on equity of 34.37%. The company had revenue of $25.50 million during the quarter, compared to analyst estimates of $66.67 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. The firm’s revenue was down 61.9% on a year-over-year basis. On average, research analysts forecast that Stem, Inc. will post -0.51 earnings per share for the current fiscal year.

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.