Prakesh Patel Sells 23,863 Shares of Stem, Inc. (NYSE:STEM) Stock

Stem, Inc. (NYSE:STEM) insider Prakesh Patel sold 23,863 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $1.87, for a total value of $44,623.81. Following the completion of the transaction, the insider now owns 181,668 shares of the company’s stock, valued at $339,719.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Stem Price Performance

STEM traded down $0.05 during trading on Tuesday, hitting $1.84. The company’s stock had a trading volume of 2,665,681 shares, compared to its average volume of 4,649,402. The company has a current ratio of 1.88, a quick ratio of 1.78 and a debt-to-equity ratio of 1.23. Stem, Inc. has a twelve month low of $1.46 and a twelve month high of $7.79. The business’s fifty day simple moving average is $2.06 and its 200 day simple moving average is $2.88. The firm has a market capitalization of $290.30 million, a price-to-earnings ratio of -1.48 and a beta of 1.88.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Stem

Institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd boosted its stake in shares of Stem by 289.5% in the third quarter. Quadrature Capital Ltd now owns 51,895 shares of the company’s stock worth $220,000 after acquiring an additional 38,570 shares during the last quarter. Lido Advisors LLC acquired a new stake in shares of Stem in the third quarter worth approximately $4,561,000. DNB Asset Management AS boosted its stake in shares of Stem by 63.7% in the fourth quarter. DNB Asset Management AS now owns 126,568 shares of the company’s stock worth $491,000 after acquiring an additional 49,256 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Stem by 3.8% in the third quarter. Deutsche Bank AG now owns 605,722 shares of the company’s stock worth $2,568,000 after acquiring an additional 22,222 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Stem during the fourth quarter worth $209,000. 61.63% of the stock is owned by institutional investors and hedge funds.

Stem Company Profile

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.