Stem (NYSE:STEM) Trading Up 5.4%

Stem, Inc. (NYSE:STEMGet Rating) shares rose 5.4% on Wednesday . The company traded as high as $15.06 and last traded at $14.87. Approximately 65,899 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 3,951,498 shares. The stock had previously closed at $14.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on shares of Stem from $13.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, August 18th. The Goldman Sachs Group decreased their price objective on shares of Stem from $19.00 to $17.00 and set a “buy” rating for the company in a report on Friday, May 13th. Finally, Northland Securities initiated coverage on Stem in a research report on Wednesday. They issued an “outperform” rating and a $24.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Stem Stock Up 3.4 %

The business has a 50-day simple moving average of $11.93 and a 200-day simple moving average of $9.86. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.12 and a current ratio of 2.40. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -21.84 and a beta of 2.33.

Insider Activity

In other Stem news, insider Saul R. Laureles sold 14,125 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $15.00, for a total value of $211,875.00. Following the transaction, the insider now owns 16,453 shares of the company’s stock, valued at $246,795. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stem news, insider Saul R. Laureles sold 14,125 shares of Stem stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $15.00, for a total value of $211,875.00. Following the completion of the transaction, the insider now owns 16,453 shares in the company, valued at approximately $246,795. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David S. Buzby sold 67,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $15.51, for a total value of $1,039,170.00. Following the transaction, the director now directly owns 608,711 shares in the company, valued at approximately $9,441,107.61. The disclosure for this sale can be found here. Insiders sold a total of 560,042 shares of company stock valued at $8,444,933 over the last quarter. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Stem

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its stake in shares of Stem by 26.2% during the 2nd quarter. Legal & General Group Plc now owns 92,912 shares of the company’s stock valued at $666,000 after purchasing an additional 19,288 shares during the period. Walleye Capital LLC increased its stake in Stem by 76.6% in the second quarter. Walleye Capital LLC now owns 168,375 shares of the company’s stock valued at $1,206,000 after acquiring an additional 73,014 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Stem by 3.3% in the second quarter. International Assets Investment Management LLC now owns 37,775 shares of the company’s stock worth $270,000 after buying an additional 1,200 shares in the last quarter. TT International Asset Management LTD bought a new position in shares of Stem during the 2nd quarter valued at $821,000. Finally, Waratah Capital Advisors Ltd. bought a new stake in Stem in the second quarter worth $1,831,000. 52.42% of the stock is owned by hedge funds and other institutional investors.

About Stem

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

Further Reading

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