Healthcare of Ontario Pension Plan Trust Fund Purchases 22,703 Shares of Stem, Inc. (NYSE:STEM)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in Stem, Inc. (NYSE:STEM) by 15.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 167,298 shares of the company’s stock after buying an additional 22,703 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.10% of Stem worth $366,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in STEM. abrdn plc bought a new stake in Stem in the 4th quarter worth about $40,000. Neuberger Berman Group LLC purchased a new position in shares of Stem during the fourth quarter valued at approximately $41,000. Wellington Wealth Strategies LLC. bought a new position in Stem during the fourth quarter valued at approximately $66,000. Victory Capital Management Inc. boosted its holdings in Stem by 25.4% in the fourth quarter. Victory Capital Management Inc. now owns 19,536 shares of the company’s stock worth $76,000 after purchasing an additional 3,955 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in Stem by 31.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 25,000 shares of the company’s stock worth $97,000 after purchasing an additional 6,050 shares during the period. Hedge funds and other institutional investors own 61.63% of the company’s stock.

Insider Buying and Selling at Stem

In other news, insider Prakesh Patel sold 23,863 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $1.87, for a total value of $44,623.81. Following the transaction, the insider now owns 181,668 shares of the company’s stock, valued at $339,719.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 sale, the insider now directly owns 181,668 shares in the company, valued at $339,719.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Eugene Carrington sold 194,171 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $1.85, for a total value of $359,216.35. Following the transaction, the chief executive officer now directly owns 506,585 shares of the company’s stock, valued at $937,182.25. The disclosure for this sale can be found here. Insiders sold a total of 267,599 shares of company stock valued at $495,763 in the last three months. 10.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on STEM. Piper Sandler dropped their price target on Stem from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Susquehanna lowered their price objective on shares of Stem from $2.50 to $2.00 and set a “positive” rating on the stock in a research note on Monday, July 15th. Evercore ISI cut their target price on shares of Stem from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. BMO Capital Markets decreased their price target on shares of Stem from $2.50 to $1.85 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Finally, UBS Group cut their price objective on shares of Stem from $5.00 to $2.50 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.82.

Stem Trading Up 3.6 %

Shares of STEM stock opened at $1.30 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.61 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $1.24 and a two-hundred day simple moving average of $1.96. Stem, Inc. has a 52-week low of $0.99 and a 52-week high of $7.79.

Stem (NYSE:STEM) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.25). Stem had a negative return on equity of 36.20% and a negative net margin of 40.03%. The business had revenue of $25.50 million during the quarter, compared to the consensus estimate of $66.67 million. During the same period last year, the company earned ($0.29) EPS. The business’s revenue was down 61.9% on a year-over-year basis. As a group, analysts forecast that Stem, Inc. will post -0.72 earnings per share for the current fiscal year.

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.