Stem (NYSE:STEM) Stock Gets Price Target Cut from Susquehanna

Stem (NYSE:STEM) had its target price reduced by Susquehanna from $7.50 to $4.50 in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. Susquehanna currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Stem from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Roth Capital reiterated a “neutral” rating and set a $6.75 price objective on shares of Stem in a research note on Monday, August 17th. Barclays decreased their price objective on Stem from $18.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Monday, July 27th. New Street Research set a $8.00 price objective on Stem in a report on Monday, July 27th. Finally, Weiss Ratings cut Stem from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.85.

Stem Stock Down 5.7%

NYSE STEM opened at $3.49 on Wednesday. The company’s 50 day moving average is $4.94 and its 200-day moving average is $7.14. Stem has a 12-month low of $3.46 and a 12-month high of $26.30. The firm has a market cap of $33.60 million, a P/E ratio of -0.41 and a beta of 1.58.

Stem (NYSE:STEM) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.58) EPS for the quarter, topping the consensus estimate of ($1.75) by $0.17. The business had revenue of $33.65 million during the quarter, compared to the consensus estimate of $36.65 million. Equities analysts expect that Stem will post -7.04 EPS for the current year.

Institutional Trading of Stem

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP purchased a new position in shares of Stem during the 2nd quarter valued at $99,000. Royal Bank of Canada raised its position in shares of Stem by 8.8% in the first quarter. Royal Bank of Canada now owns 28,213 shares of the company’s stock worth $249,000 after buying an additional 2,275 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Stem by 423.0% during the first quarter. Renaissance Technologies LLC now owns 58,575 shares of the company’s stock valued at $518,000 after buying an additional 47,375 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Stem by 48.1% during the fourth quarter. Hsbc Holdings PLC now owns 28,424 shares of the company’s stock valued at $434,000 after buying an additional 9,233 shares during the period. Institutional investors own 61.63% of the company’s stock.

Stem Company Profile

Stem, Inc is a clean-energy technology company that provides software and services for managing renewable energy and energy storage assets. Its platform is designed to help commercial, industrial and utility customers optimize electricity use, coordinate battery storage, and improve the performance of solar and other distributed energy resources.

The company’s offerings have included Athena, an artificial-intelligence-driven energy optimization platform, as well as software for monitoring, managing and reporting on renewable energy assets.