Stem (NYSE:STEM) Stock Price Down 5.5% on Insider Selling

Posted by Defense World Staff on Aug 16th, 2023

Shares of Stem, Inc. (NYSE:STEM – Get Free Report) fell 5.5% during trading on Monday after an insider sold shares in the company. The stock traded as low as $6.14 and last traded at $6.16. 248,993 shares changed hands during trading, a decline of 95% from the average session volume of 5,502,097 shares. The stock had previously closed at $6.52.

Specifically, Director Lisa L. Troe sold 6,150 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $6.40, for a total value of $39,360.00. Following the sale, the director now directly owns 19,872 shares in the company, valued at approximately $127,180.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CRO Alan Russo sold 13,427 shares of Stem stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $6.50, for a total transaction of $87,275.50. Following the sale, the executive now directly owns 139,594 shares in the company, valued at approximately $907,361. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lisa L. Troe sold 6,150 shares of Stem stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $6.40, for a total transaction of $39,360.00. Following the sale, the director now owns 19,872 shares in the company, valued at $127,180.80. The disclosure for this sale can be found here. 9.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Janney Montgomery Scott assumed coverage on shares of Stem in a research report on Tuesday, June 6th. They set a “buy” rating and a $12.00 target price on the stock. TD Cowen lowered their price target on shares of Stem from $11.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, May 5th. Bank of America raised their price target on shares of Stem from $5.00 to $6.00 and gave the stock an “underperform” rating in a report on Thursday, July 20th. Evercore ISI began coverage on shares of Stem in a report on Tuesday, May 23rd. They set an “outperform” rating and a $11.00 price target for the company. Finally, UBS Group lowered their price target on shares of Stem from $9.50 to $8.00 in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.03.

Read Our Latest Stock Analysis on Stem

Stem Price Performance

The firm’s 50-day moving average is $6.28 and its 200-day moving average is $6.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.99 and a quick ratio of 1.52.

Stem announced that its board has initiated a stock repurchase plan on Wednesday, May 3rd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 81.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Stem

Several hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. purchased a new position in Stem during the 1st quarter worth $283,000. Bank of New York Mellon Corp boosted its holdings in Stem by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 691,925 shares of the company’s stock worth $7,619,000 after acquiring an additional 30,779 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Stem by 9.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 40,946 shares of the company’s stock worth $451,000 after acquiring an additional 3,477 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Stem by 67.9% during the 1st quarter. HighTower Advisors LLC now owns 46,988 shares of the company’s stock worth $516,000 after acquiring an additional 19,010 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in Stem by 210.4% during the 1st quarter. Citigroup Inc. now owns 292,435 shares of the company’s stock worth $3,220,000 after acquiring an additional 198,231 shares during the last quarter. Institutional investors and hedge funds own 60.84% of the company’s stock.

Stem Company Profile

(Get Free Report)

Stem, Inc operates as a digitally connected and intelligent energy storage network provider in the United States and internationally. The company offers energy storage systems sourced from original equipment manufacturers (OEMs). It also provides Athena, an artificial intelligence platform, which offers battery hardware and software-enabled services to operate the energy storage systems.