William John Bush Sells 24,035 Shares of Stem, Inc. (NYSE:STEM) Stock

Stem, Inc. (NYSE:STEM) CFO William John Bush sold 24,035 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $1.87, for a total transaction of $44,945.45. Following the sale, the chief financial officer now owns 390,217 shares in the company, valued at $729,705.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

William John Bush also recently made the following trade(s):

• On Friday, March 8th, William John Bush sold 46,034 shares of Stem stock. The stock was sold at an average price of $2.19, for a total transaction of $100,814.46.
• On Friday, February 16th, William John Bush sold 20,367 shares of Stem stock. The stock was sold at an average price of $3.17, for a total transaction of $64,563.39.

Stem Price Performance

Stem stock opened at $1.85 on Thursday. The firm’s 50 day simple moving average is $2.04 and its 200-day simple moving average is $2.86. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.88 and a quick ratio of 1.78. Stem, Inc. has a fifty-two week low of $1.46 and a fifty-two week high of $7.79.

Stem (NYSE:STEM) last released its earnings results on Wednesday, February 28th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.09). Stem had a negative return on equity of 27.71% and a negative net margin of 30.42%. The firm had revenue of $167.42 million during the quarter, compared to analysts’ expectations of $254.23 million. Analysts anticipate that Stem, Inc. will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Stem by 90.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,575 shares of the company’s stock valued at $487,000 after purchasing an additional 105,643 shares in the last quarter. SCP Investment LP grew its position in Stem by 4.7% during the fourth quarter. SCP Investment LP now owns 172,600 shares of the company’s stock valued at $734,000 after purchasing an additional 7,800 shares in the last quarter. Virtu Financial LLC purchased a new position in Stem during the fourth quarter valued at approximately $228,000. Clarity Capital Partners LLC purchased a new position in Stem during the fourth quarter valued at approximately $392,000. Finally, Wellington Wealth Strategies LLC. purchased a new position in Stem during the fourth quarter valued at approximately $66,000. 61.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on STEM shares. TD Cowen dropped their target price on shares of Stem from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Susquehanna dropped their target price on shares of Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $2.50 target price (down from $5.50) on shares of Stem in a report on Friday, March 22nd. Piper Sandler dropped their target price on shares of Stem from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, BMO Capital Markets dropped their target price on shares of Stem from $4.00 to $3.25 and set a “market perform” rating on the stock in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Stem presently has an average rating of “Hold” and an average price target of $5.96.

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.