Stem (NYSE:STEM) Issues Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Stem (NYSE:STEM) issued its quarterly earnings data on Thursday. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.25), RTT News reports. The business had revenue of $25.50 million for the quarter, compared to the consensus estimate of $66.67 million. Stem had a negative net margin of 30.42% and a negative return on equity of 27.71%. Stem’s revenue was down 61.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.29) EPS.

Stem Price Performance

Shares of NYSE:STEM traded up $0.06 during trading on Thursday, reaching $1.91. The stock had a trading volume of 2,588,655 shares, compared to its average volume of 4,602,016. The stock has a market capitalization of $301.34 million, a PE ratio of -1.48 and a beta of 1.91. 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 has a 52 week low of $1.46 and a 52 week high of $7.79. The business’s 50-day moving average price is $2.02 and its 200 day moving average price is $2.86.

Insider Buying and Selling

In other Stem news, CFO William John Bush sold 20,367 shares of Stem stock in a transaction on Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $64,563.39. Following the completion of the transaction, the chief financial officer now owns 276,814 shares in the company, valued at approximately $877,500.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Stem news, CFO William John Bush sold 20,367 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $3.17, for a total value of $64,563.39. Following the completion of the transaction, the chief financial officer now directly owns 276,814 shares of the company’s stock, valued at $877,500.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Alan Russo sold 14,390 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $45,616.30. Following the transaction, the executive now directly owns 158,204 shares in the company, valued at approximately $501,506.68. The disclosure for this sale can be found here. In the last three months, insiders have acquired 130,418 shares of company stock worth $238,045 and have sold 578,097 shares worth $1,291,013. 10.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.