Stem (NYSE:STEM) Announces Earnings Results, Misses Expectations By $0.25 EPS

Stem (NYSE:STEM) announced its earnings results on Thursday. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.25), RTT News reports. The company had revenue of $25.50 million for the quarter, compared to analyst estimates of $66.67 million. Stem had a negative return on equity of 34.37% and a negative net margin of 40.03%. The business’s quarterly revenue was down 61.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.29) earnings per share.

Stem Stock Performance

NYSE:STEM opened at $1.36 on Friday. The company has a market cap of $214.57 million, a price-to-earnings ratio of -0.94 and a beta of 1.91. The stock has a fifty day moving average price of $1.98 and a 200-day moving average price of $2.83. Stem has a fifty-two week low of $1.36 and a fifty-two 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.

Insiders Place Their Bets

In related news, COO Michael James Carlson sold 9,952 shares of the 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 $31,547.84. Following the sale, the chief operating officer now owns 20,367 shares in the company, valued at approximately $64,563.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Michael James Carlson sold 9,952 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $3.17, for a total transaction of $31,547.84. Following the completion of the sale, the chief operating officer now directly owns 20,367 shares in the company, valued at approximately $64,563.39. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Prakesh Patel sold 23,863 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $1.87, for a total value of $44,623.81. Following the transaction, the insider now directly owns 181,668 shares of the company’s stock, valued at approximately $339,719.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 130,418 shares of company stock worth $238,045 and have sold 578,097 shares worth $1,291,013. Corporate insiders own 10.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on STEM shares. 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 report on Friday, March 22nd. Susquehanna cut their price target on Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. Piper Sandler reduced their price objective on Stem from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Evercore ISI reduced their price target on Stem from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday. Finally, TD Cowen lowered their price objective on shares of Stem from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.23.

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.