Stem (NYSE:STEM) Price Target Cut to $0.40 by Analysts at BMO Capital Markets

Stem (NYSE:STEM) had its target price decreased by stock analysts at BMO Capital Markets from $0.50 to $0.40 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential downside of 9.71% from the stock’s previous close.

Several other research analysts have also weighed in on the company. UBS Group lowered their price objective on Stem from $1.00 to $0.60 and set a “buy” rating for the company in a research report on Friday, November 8th. Piper Sandler lowered their price target on Stem from $1.50 to $0.30 and set a “neutral” rating for the company in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Stem currently has a consensus rating of “Hold” and a consensus target price of $1.11.

Stem Stock Down 14.8 %

Shares of STEM opened at $0.44 on Wednesday. Stem has a 52-week low of $0.30 and a 52-week high of $2.28. The stock has a fifty day simple moving average of $0.65 and a two-hundred day simple moving average of $0.51. The company has a market capitalization of $72.10 million, a PE ratio of -0.09 and a beta of 1.49.

Stem (NYSE:STEM) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm had revenue of $55.83 million during the quarter, compared to analysts’ expectations of $47.89 million. Stem had a negative net margin of 328.11% and a negative return on equity of 275.79%. During the same period last year, the business earned ($0.21) earnings per share. As a group, equities analysts anticipate that Stem will post -0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC lifted its stake in Stem by 213.1% during the 3rd quarter. Barclays PLC now owns 235,336 shares of the company’s stock worth $81,000 after acquiring an additional 160,165 shares in the last quarter. Geode Capital Management LLC increased its stake in Stem by 4.8% during the third quarter. Geode Capital Management LLC now owns 3,604,073 shares of the company’s stock worth $1,255,000 after purchasing an additional 166,002 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Stem by 77.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,406,080 shares of the company’s stock worth $837,000 after purchasing an additional 1,047,825 shares in the last quarter. Creative Planning boosted its stake in shares of Stem by 177.1% in the third quarter. Creative Planning now owns 123,521 shares of the company’s stock valued at $43,000 after purchasing an additional 78,940 shares during the period. Finally, Aries Wealth Management grew its holdings in shares of Stem by 100.0% in the fourth quarter. Aries Wealth Management now owns 50,000 shares of the company’s stock valued at $30,000 after purchasing an additional 25,000 shares in the last quarter. 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.