Stem, Inc. (NYSE:STEM) Director David S. Buzby Purchases 62,000 Shares

Posted by on Sep 19th, 2023

Stem, Inc. (NYSE:STEM – Get Free Report) Director David S. Buzby bought 62,000 shares of Stem stock in a transaction on Friday, September 15th. The shares were purchased at an average price of $4.82 per share, for a total transaction of $298,840.00. Following the acquisition, the director now directly owns 620,711 shares in the company, valued at approximately $2,991,827.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Stem Price Performance

NYSE STEM opened at $4.50 on Tuesday. The business’s fifty day moving average price is $5.92 and its 200-day moving average price is $5.64. The stock has a market capitalization of $700.32 million, a price-to-earnings ratio of -4.50 and a beta of 2.09. 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, Inc. has a 1-year low of $3.71 and a 1-year high of $17.18.

Stem (NYSE:STEM – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.33). The firm had revenue of $92.95 million for the quarter, compared to the consensus estimate of $94.19 million. Stem had a negative net margin of 22.92% and a negative return on equity of 26.21%. On average, equities analysts predict that Stem, Inc. will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Stem

Several hedge funds and other institutional investors have recently modified their holdings of STEM. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Stem during the 2nd quarter valued at $17,561,000. Schroder Investment Management Group raised its holdings in Stem by 98.6% in the 4th quarter. Schroder Investment Management Group now owns 6,111,511 shares of the company’s stock worth $54,637,000 after purchasing an additional 3,033,830 shares during the period. Renaissance Technologies LLC bought a new position in Stem in the 1st quarter worth $30,405,000. Wellington Management Group LLP raised its holdings in Stem by 87.4% in the 1st quarter. Wellington Management Group LLP now owns 4,295,030 shares of the company’s stock worth $24,353,000 after purchasing an additional 2,002,840 shares during the period. Finally, BlackRock Inc. raised its holdings in Stem by 13.6% in the 2nd quarter. BlackRock Inc. now owns 10,569,524 shares of the company’s stock worth $60,458,000 after purchasing an additional 1,263,049 shares during the period. 64.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on STEM shares. Morgan Stanley downgraded Stem from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $12.00 to $8.00 in a report on Wednesday, September 6th. Barclays started coverage on Stem in a report on Wednesday, August 30th. They set an “equal weight” rating and a $6.00 target price on the stock. Piper Sandler started coverage on Stem in a research note on Friday, June 23rd. They issued a “neutral” rating and a $6.00 price target on the stock. Evercore ISI upped their price target on Stem from $11.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, September 8th. Finally, Janney Montgomery Scott started coverage on Stem in a research note on Tuesday, June 6th. They issued a “buy” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.97.

Check Out Our Latest Research Report on STEM

About Stem

(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.

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