Brokers Offer Predictions for Stem, Inc.’s Q3 2024 Earnings (NYSE:STEM)

Stem, Inc. (NYSE:STEM) – Investment analysts at Roth Capital reduced their Q3 2024 earnings per share (EPS) estimates for shares of Stem in a note issued to investors on Wednesday, August 7th. Roth Capital analyst J. Clare now expects that the company will earn ($0.21) per share for the quarter, down from their prior forecast of ($0.14). The consensus estimate for Stem’s current full-year earnings is ($0.72) per share. Roth Capital also issued estimates for Stem’s Q4 2024 earnings at ($0.17) EPS and FY2025 earnings at ($0.67) EPS.

Stem (NYSE:STEM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $34.00 million during the quarter, compared to analyst estimates of $64.06 million. Stem had a negative return on equity of 40.21% and a negative net margin of 213.33%. The firm’s quarterly revenue was down 63.4% on a year-over-year basis. During the same period last year, the company posted ($0.56) EPS.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reduced their price target 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. The Goldman Sachs Group dropped their price objective on Stem from $1.40 to $0.75 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group lowered their price target on Stem from $2.50 to $1.00 and set a “buy” rating on the stock in a research note on Thursday. Evercore ISI lowered their price target on Stem from $9.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Susquehanna lowered Stem from a “positive” rating to a “neutral” rating and lowered their price target for the company from $2.00 to $0.50 in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.71.

Stem Price Performance

STEM opened at $0.58 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.71 and a debt-to-equity ratio of 1.41. Stem has a 12-month low of $0.53 and a 12-month high of $6.70. The stock has a fifty day moving average of $1.16 and a 200-day moving average of $1.78. The firm has a market capitalization of $93.30 million, a P/E ratio of -0.40 and a beta of 1.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of STEM. Nisa Investment Advisors LLC boosted its holdings in shares of Stem by 2,416.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 28,507 shares of the company’s stock worth $32,000 after acquiring an additional 27,374 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Stem by 73.9% in the 2nd quarter. SG Americas Securities LLC now owns 33,666 shares of the company’s stock worth $37,000 after acquiring an additional 14,307 shares in the last quarter. abrdn plc acquired a new position in shares of Stem in the 4th quarter worth approximately $40,000. Neuberger Berman Group LLC acquired a new position in Stem during the 4th quarter worth $41,000. Finally, Wellington Wealth Strategies LLC. acquired a new position in Stem during the 4th quarter worth $66,000. 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.