Rahul Shukla Sells 3,674 Shares of Stem (NYSE:STEM) Stock

Stem, Inc. (NYSE:STEM) CAO Rahul Shukla sold 3,674 shares of Stem stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $16.21, for a total transaction of $59,555.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Stem Stock Down 9.8%

STEM stock opened at $13.90 on Friday. The firm has a market cap of $116.58 million, a price-to-earnings ratio of -1.02 and a beta of 1.35. The company’s fifty day simple moving average is $20.01 and its 200 day simple moving average is $14.51. Stem, Inc. has a 12-month low of $5.81 and a 12-month high of $33.60.

Stem (NYSE:STEM) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($2.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.85) by ($0.99). The business had revenue of $38.24 million during the quarter, compared to analysts’ expectations of $39.07 million. Research analysts expect that Stem, Inc. will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Stem

A number of large investors have recently modified their holdings of the company. Cerity Partners LLC acquired a new stake in Stem in the 1st quarter valued at $29,000. CWM LLC grew its holdings in shares of Stem by 317.7% during the first quarter. CWM LLC now owns 89,913 shares of the company’s stock valued at $31,000 after buying an additional 68,386 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Stem during the third quarter valued at about $55,000. Electron Capital Partners LLC increased its position in shares of Stem by 24.7% during the first quarter. Electron Capital Partners LLC now owns 163,390 shares of the company’s stock worth $57,000 after acquiring an additional 32,313 shares in the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of Stem by 24.1% in the 1st quarter. Nomura Holdings Inc. now owns 228,814 shares of the company’s stock worth $80,000 after acquiring an additional 44,433 shares during the last quarter. 61.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STEM. Weiss Ratings reiterated a “hold (c-)” rating on shares of Stem in a report on Wednesday. UBS Group raised their price objective on shares of Stem from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Barclays reiterated a “reduce” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Stem in a research note on Friday, October 31st. Roth Capital set a $23.00 target price on shares of Stem and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Susquehanna raised their price target on shares of Stem from $12.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Stem presently has an average rating of “Reduce” and an average price target of $14.57.

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.