Stem (NYSE:STEM) PT Lowered to $2.00 at The Goldman Sachs Group

Stem (NYSE:STEM) had its price target lowered by stock analysts at The Goldman Sachs Group from $2.50 to $2.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 37.46% from the stock’s previous close.

Several other analysts also recently commented on STEM. BMO Capital Markets lowered their price objective on Stem from $2.50 to $1.85 and set a “market perform” rating for the company in a research note on Friday. Evercore ISI dropped their target price on shares of Stem from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Friday. Susquehanna reduced their target price 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. Piper Sandler reduced their target price on shares of Stem from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Finally, TD Cowen dropped their price target on shares of Stem from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.20.

Stem Stock Performance

Shares of NYSE STEM traded up $0.10 during mid-day trading on Monday, hitting $1.46. 3,556,770 shares of the company were exchanged, compared to its average volume of 4,727,084. The firm has a market cap of $229.56 million, a price-to-earnings ratio of -1.00 and a beta of 1.91. 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 1-year low of $1.36 and a 1-year high of $7.79. The stock has a 50 day simple moving average of $1.98 and a 200-day simple moving average of $2.82.

Stem (NYSE:STEM) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.25). The business had revenue of $25.50 million during the quarter, compared to analysts’ expectations of $66.67 million. Stem had a negative return on equity of 34.37% and a negative net margin of 40.03%. The firm’s revenue was down 61.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.29) earnings per share. On average, sell-side analysts forecast that Stem will post -0.51 EPS for the current fiscal year.

Insider Transactions at Stem

In other Stem news, CFO William John Bush sold 20,367 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $64,563.39. Following the completion of the transaction, the chief financial officer now owns 276,814 shares of the company’s stock, valued at approximately $877,500.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO William John Bush sold 20,367 shares of Stem stock in a transaction on Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $64,563.39. Following the completion of the transaction, the chief financial officer now directly owns 276,814 shares in the company, valued at $877,500.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Alan Russo sold 24,142 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $1.87, for a total value of $45,145.54. Following the transaction, the executive now owns 212,910 shares in the company, valued at approximately $398,141.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 130,418 shares of company stock valued at $238,045 and have sold 578,097 shares valued at $1,291,013. 10.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. abrdn plc acquired a new stake in shares of Stem during the fourth quarter worth $40,000. Neuberger Berman Group LLC bought a new stake in Stem during the fourth quarter worth $41,000. Sequoia Financial Advisors LLC purchased a new position in shares of Stem during the 3rd quarter valued at $55,000. Horizon Family Wealth Inc. bought a new stake in Stem during the 3rd quarter worth approximately $57,000. Finally, Wellington Wealth Strategies LLC. purchased a new stake in shares of Stem in the 4th quarter valued at $66,000. 61.63% of the stock is currently owned by hedge funds and other institutional investors.

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.