BMO Capital Markets Trims Stem (NYSE:STEM) Target Price to $1.85

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

Several other equities analysts also recently weighed in on the company. Susquehanna cut 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. Piper Sandler lowered their target price on shares of Stem from $3.00 to $2.00 and set a neutral rating for the company in a report on Thursday, April 11th. TD Cowen cut their target price on Stem from $7.00 to $5.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group restated a neutral rating and set a $2.50 price target (down previously from $5.50) on shares of Stem in a research note on Friday, March 22nd. Finally, Evercore ISI cut their target price on shares of Stem from $13.00 to $9.00 and set an outperform rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Stem currently has an average rating of Hold and a consensus price target of $5.20.

Stem Price Performance

STEM stock traded up $0.04 during trading on Friday, hitting $1.40. 7,006,505 shares of the company’s stock traded hands, compared to its average volume of 4,769,834. The business has a fifty day simple moving average of $1.98 and a 200 day simple moving average of $2.82. Stem has a 52 week low of $1.36 and a 52 week high of $7.79. 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 has a market capitalization of $220.88 million, a price-to-earnings ratio of -0.97 and a beta of 1.91.

Stem (NYSE:STEM) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $25.50 million during the quarter, compared to the consensus estimate of $66.67 million. During the same period in the previous year, the business posted ($0.29) EPS. The firm’s revenue was down 61.9% on a year-over-year basis. As a group, research analysts expect that Stem will post -0.51 EPS for the current fiscal year.

Insider Activity at Stem

In other Stem news, CRO Alan Russo sold 14,390 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $3.17, for a total transaction of $45,616.30. Following the sale, the executive now owns 158,204 shares in the company, valued at approximately $501,506.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director David S. Buzby acquired 62,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $1.84 per share, with a total value of $115,000.00. Following the acquisition, the director now directly owns 734,648 shares in the company, valued at approximately $1,351,752.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Alan Russo sold 14,390 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $45,616.30. Following the sale, the executive now directly owns 158,204 shares in the company, valued at $501,506.68. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 130,418 shares of company stock valued at $238,045 and have sold 578,097 shares valued at $1,291,013. 10.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Stem

Several institutional investors have recently made changes to their positions in the company. abrdn plc purchased a new stake in Stem during the 4th quarter worth approximately $40,000. Neuberger Berman Group LLC acquired a new position in Stem during the fourth quarter worth about $41,000. Sequoia Financial Advisors LLC acquired a new position in shares of Stem during the 3rd quarter worth approximately $55,000. Horizon Family Wealth Inc. acquired a new position in shares of Stem during the 3rd quarter valued at about $57,000. Finally, Wellington Wealth Strategies LLC. purchased a new stake in shares of Stem in the fourth quarter valued at about $66,000. 61.63% of the stock is owned by hedge funds and other institutional investors.

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.