Stem, Inc. (NYSE:STEM) Sees Significant Drop in Short Interest

Stem, Inc. (NYSE:STEM) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 40,640,000 shares, a decline of 14.2% from the December 31st total of 47,350,000 shares. Approximately 26.8% of the shares of the company are sold short. Based on an average daily volume of 12,380,000 shares, the short-interest ratio is currently 3.3 days.

Stem Stock Up 4.6 %

Shares of NYSE:STEM traded up $0.03 during midday trading on Friday, reaching $0.60. The company’s stock had a trading volume of 6,449,686 shares, compared to its average volume of 20,254,152. The firm has a 50 day moving average of $0.57 and a 200-day moving average of $0.59. The firm has a market capitalization of $97.65 million, a P/E ratio of -0.12 and a beta of 1.43. Stem has a 12-month low of $0.30 and a 12-month high of $3.58.

Stem (NYSE:STEM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). Stem had a negative net margin of 328.11% and a negative return on equity of 275.79%. The business had revenue of $29.29 million for the quarter, compared to the consensus estimate of $39.99 million. During the same period in the prior year, the business earned ($0.17) earnings per share. On average, research analysts predict that Stem will post -0.52 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Susquehanna lifted their target price on shares of Stem from $0.50 to $0.60 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Barclays cut their target price on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating on the stock in a report on Friday, October 18th. The Goldman Sachs Group dropped their price target on shares of Stem from $0.75 to $0.65 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Piper Sandler cut their price objective on Stem from $1.50 to $0.30 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Finally, UBS Group decreased their target price on Stem from $1.00 to $0.60 and set a “buy” rating for the company in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $1.38.

Institutional Investors Weigh In On Stem

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Stem by 213.1% in the 3rd quarter. Barclays PLC now owns 235,336 shares of the company’s stock valued at $81,000 after acquiring an additional 160,165 shares during the period. Geode Capital Management LLC lifted its position in shares of Stem by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,604,073 shares of the company’s stock worth $1,255,000 after buying an additional 166,002 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Stem by 77.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,406,080 shares of the company’s stock worth $837,000 after purchasing an additional 1,047,825 shares during the last quarter. Creative Planning increased its position in Stem by 177.1% during the third quarter. Creative Planning now owns 123,521 shares of the company’s stock worth $43,000 after buying an additional 78,940 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Stem during the 2nd quarter worth $405,000. Institutional investors and hedge funds 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.