Evercore ISI Cuts Stem (NYSE:STEM) Price Target to $9.00

Stem (NYSE:STEM) had its target price reduced by Evercore ISI from $13.00 to $9.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Piper Sandler reduced their target price on shares of Stem from $3.00 to $2.00 and set a neutral rating on the stock in a report on Thursday, April 11th. BMO Capital Markets dropped their target price on Stem from $4.00 to $3.25 and set a market perform rating for the company in a report on Thursday, February 29th. The Goldman Sachs Group reissued a neutral rating and set a $2.50 target price (down previously from $5.50) on shares of Stem in a research report on Friday, March 22nd. TD Cowen lowered their price target on Stem from $7.00 to $5.00 and set an outperform rating for the company in a research report on Thursday, February 29th. Finally, Susquehanna cut their price objective on shares of Stem from $5.50 to $4.00 and set a positive rating on the stock in a research report on Thursday, February 29th. One equities 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 stock. According to data from MarketBeat.com, Stem has an average rating of Hold and an average target price of $5.20.

Stem Price Performance

Stem stock traded up $0.04 during midday trading on Friday, reaching $1.40. 7,006,505 shares of the stock traded hands, compared to its average volume of 4,769,834. The stock has a market cap of $220.88 million, a P/E ratio of -0.97 and a beta of 1.91. The stock’s fifty day moving average is $1.98 and its 200-day moving average is $2.82. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 1.23. Stem has a 12 month low of $1.36 and a 12 month high of $7.79.

Stem (NYSE:STEM) last posted its 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 firm had revenue of $25.50 million for the quarter, compared to the consensus estimate of $66.67 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. The firm’s revenue was down 61.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stem will post -0.51 EPS for the current year.

Insiders Place Their Bets

In other news, Director David S. Buzby purchased 33,800 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average price of $1.81 per share, for a total transaction of $61,178.00. Following the completion of the acquisition, the director now owns 768,448 shares of the company’s stock, valued at $1,390,890.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CRO Alan Russo sold 14,390 shares of Stem 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 $45,616.30. Following the transaction, the executive now directly owns 158,204 shares of the company’s stock, valued at $501,506.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David S. Buzby bought 33,800 shares of the company’s stock in a transaction on Monday, March 18th. The shares were bought at an average cost of $1.81 per share, for a total transaction of $61,178.00. Following the transaction, the director now directly owns 768,448 shares in the company, valued at approximately $1,390,890.88. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 130,418 shares of company stock worth $238,045 and have sold 578,097 shares worth $1,291,013. Insiders own 10.17% of the company’s stock.

Institutional Investors Weigh In On Stem

A number of institutional investors have recently added to or reduced their stakes in STEM. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Stem by 106.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 6,341,334 shares of the company’s stock worth $26,887,000 after purchasing an additional 3,271,193 shares in the last quarter. Electron Capital Partners LLC boosted its holdings in Stem by 62.2% during the third quarter. Electron Capital Partners LLC now owns 4,978,739 shares of the company’s stock worth $21,110,000 after buying an additional 1,909,478 shares in the last quarter. Lido Advisors LLC acquired a new stake in Stem during the third quarter valued at $4,561,000. Alkeon Capital Management LLC increased its holdings in Stem by 34.6% in the third quarter. Alkeon Capital Management LLC now owns 3,888,612 shares of the company’s stock valued at $16,488,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Rock Point Advisors LLC raised its position in shares of Stem by 104.7% in the fourth quarter. Rock Point Advisors LLC now owns 1,407,525 shares of the company’s stock worth $5,461,000 after acquiring an additional 720,080 shares during the period. Institutional investors own 61.63% of the company’s stock.

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.