Stem (NYSE:STEM) Shares Gap Down After Analyst Downgrade

Posted by on Oct 7th, 2023

Stem, Inc. (NYSE:STEM – Get Free Report) shares gapped down before the market opened on Friday after Piper Sandler lowered their price target on the stock from $5.00 to $4.00. The stock had previously closed at $3.71, but opened at $3.59. Piper Sandler currently has a neutral rating on the stock. Stem shares last traded at $3.67, with a volume of 362,372 shares trading hands.

Several other research firms have also recently issued reports on STEM. Bank of America upped their target price on shares of Stem from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Thursday, July 20th. Evercore ISI increased their price objective on shares of Stem from $11.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, September 8th. Barclays initiated coverage on shares of Stem in a research note on Wednesday, August 30th. They issued an “equal weight” rating and a $6.00 price objective on the stock. Finally, Morgan Stanley cut shares of Stem from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $12.00 to $8.00 in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.18.

Read Our Latest Report on STEM

Insider Transactions at Stem

In other news, Director David S. Buzby acquired 62,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average cost of $4.82 per share, for a total transaction of $298,840.00. Following the completion of the acquisition, the director now directly owns 620,711 shares of the company’s stock, valued at approximately $2,991,827.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Alan Russo sold 13,427 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $6.50, for a total transaction of $87,275.50. Following the sale, the executive now owns 139,594 shares in the company, valued at $907,361. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Buzby purchased 62,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $4.82 per share, for a total transaction of $298,840.00. Following the purchase, the director now directly owns 620,711 shares of the company’s stock, valued at approximately $2,991,827.02. The disclosure for this purchase can be found here. Corporate insiders own 9.12% of the company’s stock.

Institutional Investors Weigh In On Stem

A number of large investors have recently bought and sold shares of the company. Armstrong Advisory Group Inc. acquired a new stake in shares of Stem during the 2nd quarter worth approximately $25,000. SailingStone Capital Partners LLC purchased a new position in Stem in the 4th quarter valued at $34,000. Exchange Traded Concepts LLC purchased a new position in Stem in the 1st quarter valued at $53,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Stem in the 2nd quarter valued at $53,000. Finally, Aries Wealth Management purchased a new position in Stem in the 1st quarter valued at $57,000. Hedge funds and other institutional investors own 64.45% of the company’s stock.

Stem Stock Up 6.2 %

The company has a market cap of $613.85 million, a PE ratio of -3.94 and a beta of 2.13. The business has a fifty day simple moving average of $5.16 and a two-hundred day simple moving average of $5.34. The company has a current ratio of 1.99, a quick ratio of 1.52 and a debt-to-equity ratio of 1.01.

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

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.

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