Geode Capital Management LLC Sells 199,417 Shares of Stem, Inc. (NYSE:STEM)

Geode Capital Management LLC cut its holdings in Stem, Inc. (NYSE:STEM) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,404,656 shares of the company’s stock after selling 199,417 shares during the period. Geode Capital Management LLC’s holdings in Stem were worth $2,053,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 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 worth $30,000 after purchasing an additional 25,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in Stem during the 3rd quarter valued at $25,000. Finally, Barclays PLC grew its holdings in Stem by 213.1% in 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 during the last quarter. 61.63% of the stock is currently owned by hedge funds and other institutional investors.

Stem Stock Performance

Shares of NYSE:STEM opened at $0.41 on Wednesday. The firm has a market capitalization of $67.17 million, a P/E ratio of -0.08 and a beta of 1.52. The stock has a 50 day moving average price of $0.40 and a 200-day moving average price of $0.49. Stem, Inc. has a 52-week low of $0.29 and a 52-week high of $1.97.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group reiterated a “neutral” rating on shares of Stem in a report on Monday, April 14th. BMO Capital Markets dropped their price objective on Stem from $0.50 to $0.40 and set a “market perform” rating for the company in a report on Wednesday, March 5th. Finally, Roth Mkm lifted their price objective on Stem from $0.35 to $0.40 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $1.11.

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.