Stem (NYSE:STEM) Given New $1.85 Price Target at BMO Capital Markets

Stem (NYSE:STEM) had its target price decreased by BMO Capital Markets from $2.50 to $1.85 in a research note released on Friday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other brokerages have also weighed in on STEM. TD Cowen dropped their price objective on shares of Stem from $7.00 to $5.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. The Goldman Sachs Group restated a neutral rating and set a $2.50 price objective (down from $5.50) on shares of Stem in a research report on Friday, March 22nd. 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. Evercore ISI dropped their price target on Stem from $13.00 to $9.00 and set an outperform rating for the company in a report on Friday. Finally, Piper Sandler lowered their price objective on Stem from $3.00 to $2.00 and set a neutral rating on the stock in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $5.23.

Stem Stock Down 28.8 %

STEM traded down $0.55 during trading on Friday, reaching $1.36. 16,214,125 shares of the stock were exchanged, compared to its average volume of 3,554,499. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.78 and a current ratio of 1.88. The stock’s 50 day moving average price is $1.98 and its two-hundred day moving average price is $2.83. Stem has a twelve month low of $1.36 and a twelve month high of $7.79. The stock has a market cap of $214.57 million, a P/E ratio of -0.94 and a beta of 1.91.

Stem (NYSE:STEM) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.25). Stem had a negative return on equity of 34.37% and a negative net margin of 40.03%. The firm had revenue of $25.50 million for the quarter, compared to analyst estimates of $66.67 million. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. The firm’s revenue for the quarter was down 61.9% on a year-over-year basis. Equities analysts expect that Stem will post -0.51 EPS for the current year.

Insider Buying and Selling at Stem

In related news, CRO Alan Russo sold 14,390 shares of Stem stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $3.17, for a total transaction of $45,616.30. Following the sale, the executive now directly owns 158,204 shares of the company’s stock, valued at approximately $501,506.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Prakesh Patel sold 23,863 shares of Stem stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $1.87, for a total transaction of $44,623.81. Following the sale, the insider now directly owns 181,668 shares of the company’s stock, valued at $339,719.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Alan Russo sold 14,390 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $3.17, for a total value of $45,616.30. Following the completion of the transaction, the executive now directly owns 158,204 shares of the company’s stock, valued at approximately $501,506.68. 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 578,097 shares worth $1,291,013. Company insiders own 10.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. abrdn plc acquired a new stake in Stem in the 4th quarter valued at $40,000. Neuberger Berman Group LLC acquired a new position in shares of Stem during the fourth quarter valued at about $41,000. Sequoia Financial Advisors LLC bought a new stake in shares of Stem during the third quarter worth about $55,000. Horizon Family Wealth Inc. acquired a new stake in shares of Stem in the 3rd quarter worth about $57,000. Finally, Wellington Wealth Strategies LLC. bought a new position in Stem in the 4th quarter valued at about $66,000. Institutional investors own 61.63% of the company’s stock.

Stem Company Profile

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.