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

Stem (NYSE:STEM) had its target price cut by research analysts at BMO Capital Markets from $2.50 to $1.85 in a report released on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 35.53% from the company’s current price.

Several other equities analysts have also commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $2.50 price target (down previously from $5.50) on shares of Stem in a research note on Friday, March 22nd. 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 note on Friday. Piper Sandler cut 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. Susquehanna decreased their target price on Stem from $5.50 to $4.00 and set a “positive” rating for the company in a report on Thursday, February 29th. Finally, TD Cowen cut their price target on Stem from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.23.

Stem Price Performance

Stem stock traded down $0.54 during trading on Friday, reaching $1.37. The company had a trading volume of 16,185,689 shares, compared to its average volume of 4,743,360. The firm has a market capitalization of $215.36 million, a PE ratio of -1.07 and a beta of 1.91. The firm’s 50-day simple moving average is $2.00 and its 200 day simple moving average is $2.85. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.78 and a current ratio of 1.88. Stem has a 1-year low of $1.36 and a 1-year high of $7.79.

Stem (NYSE:STEM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.25). The firm had revenue of $25.50 million during the quarter, compared to analyst estimates of $66.67 million. Stem had a negative net margin of 30.42% and a negative return on equity of 27.71%. The firm’s revenue for the quarter was down 61.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) earnings per share. As a group, equities research analysts anticipate that Stem will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Michael James Carlson sold 9,952 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 $31,547.84. Following the transaction, the chief operating officer now directly owns 20,367 shares in the company, valued at approximately $64,563.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Michael James Carlson sold 9,952 shares of Stem stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $3.17, for a total transaction of $31,547.84. Following the sale, the chief operating officer now directly owns 20,367 shares of the company’s stock, valued at $64,563.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Alan Russo sold 14,390 shares of the firm’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 sale, the executive now owns 158,204 shares of the company’s stock, valued at approximately $501,506.68. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 130,418 shares of company stock valued at $238,045 and sold 578,097 shares valued at $1,291,013. Corporate insiders own 10.17% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Stem by 7.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 646,918 shares of the company’s stock valued at $2,743,000 after acquiring an additional 43,859 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Stem by 16.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,187 shares of the company’s stock valued at $149,000 after buying an additional 4,924 shares in the last quarter. SCP Investment LP raised its position in shares of Stem by 303.9% during the 3rd quarter. SCP Investment LP now owns 164,800 shares of the company’s stock worth $699,000 after buying an additional 124,000 shares in the last quarter. Olympiad Research LP bought a new position in shares of Stem in the third quarter valued at approximately $305,000. Finally, Principal Financial Group Inc. increased its stake in shares of Stem by 39.3% during the third quarter. Principal Financial Group Inc. now owns 21,067 shares of the company’s stock valued at $89,000 after acquiring an additional 5,941 shares during the period. 61.63% of the stock is currently owned by institutional investors.

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.