Stem (NYSE:STEM) Price Target Cut to $0.40 by Analysts at BMO Capital Markets

Stem (NYSE:STEM - Free Report) had its price target reduced by BMO Capital Markets from $0.50 to $0.40 in a research note released on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

Several other research analysts have also weighed in on the stock. UBS Group reduced their price objective on shares of Stem from $1.00 to $0.60 and set a "buy" rating on the stock in a research note on Friday, November 8th. Piper Sandler cut their price target on shares of Stem from $1.50 to $0.30 and set a "neutral" rating on the stock in a research note on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $1.11.

Stem Stock Up 0.7 %

Stem stock traded up $0.00 during midday trading on Wednesday, hitting $0.44. 3,664,340 shares of the stock were exchanged, compared to its average volume of 13,179,270. The company has a fifty day simple moving average of $0.65 and a two-hundred day simple moving average of $0.51. Stem has a 52 week low of $0.30 and a 52 week high of $2.28. The stock has a market capitalization of $72.10 million, a PE ratio of -0.09 and a beta of 1.49.

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Stem (NYSE:STEM - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. Stem had a negative net margin of 328.11% and a negative return on equity of 275.79%. The business had revenue of $55.83 million for the quarter, compared to analyst estimates of $47.89 million. During the same quarter last year, the firm earned ($0.21) EPS. As a group, equities research analysts anticipate that Stem will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Stem

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Stem in the third quarter valued at $25,000. Aries Wealth Management grew its stake in shares of Stem by 100.0% in the fourth quarter. Aries Wealth Management now owns 50,000 shares of the company's stock valued at $30,000 after acquiring an additional 25,000 shares in the last quarter. Creative Planning grew its stake in shares of Stem by 177.1% in the third quarter. Creative Planning now owns 123,521 shares of the company's stock valued at $43,000 after acquiring an additional 78,940 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Stem by 569.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 121,381 shares of the company's stock valued at $73,000 after acquiring an additional 103,254 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Stem by 213.1% in the third quarter. Barclays PLC now owns 235,336 shares of the company's stock valued at $81,000 after acquiring an additional 160,165 shares in the last quarter. 61.63% of the stock is currently owned by institutional investors and hedge funds.

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.