Stem (NYSE:STEM) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Stem (NYSE:STEM) posted its quarterly earnings results on Tuesday. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01, Zacks reports. Stem had a negative return on equity of 36.20% and a negative net margin of 40.03%. The business had revenue of $34.00 million during the quarter, compared to the consensus estimate of $64.06 million. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. Stem’s revenue for the quarter was down 63.4% compared to the same quarter last year.

Stem Trading Down 40.3 %

Shares of NYSE:STEM traded down $0.40 during midday trading on Wednesday, reaching $0.60. The company’s stock had a trading volume of 34,817,401 shares, compared to its average volume of 4,639,384. The firm has a market capitalization of $96.18 million, a price-to-earnings ratio of -0.41 and a beta of 1.75. Stem has a fifty-two week low of $0.53 and a fifty-two week high of $6.92. The firm has a 50 day moving average price of $1.20 and a two-hundred day moving average price of $1.82. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.61 and a current ratio of 1.71.

Analysts Set New Price Targets

Several analysts recently issued reports on STEM shares. Susquehanna reduced their price target on shares of Stem from $2.50 to $2.00 and set a “positive” rating on the stock in a research report on Monday, July 15th. BMO Capital Markets dropped their price objective on Stem from $2.50 to $1.85 and set a “market perform” rating for the company in a research report on Friday, May 3rd. TD Cowen cut Stem from a “buy” rating to a “hold” rating and decreased their target price for the company from $4.00 to $1.00 in a research report on Wednesday. The Goldman Sachs Group lowered their target price on Stem from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Piper Sandler decreased their price target 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. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.10.

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.