Prakesh Patel Sells 23,863 Shares of Stem, Inc. (NYSE:STEM) Stock

Stem, Inc. (NYSE:STEM) insider Prakesh Patel sold 23,863 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $1.87, for a total transaction of $44,623.81. Following the sale, the insider now directly owns 181,668 shares in the company, valued at $339,719.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Stem Price Performance

STEM stock opened at $1.85 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.78 and a current ratio of 1.88. Stem, Inc. has a 52 week low of $1.46 and a 52 week high of $7.79. The company’s 50-day simple moving average is $2.04 and its 200 day simple moving average is $2.86.

Stem (NYSE:STEM) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). The firm had revenue of $167.42 million for the quarter, compared to analyst estimates of $254.23 million. Stem had a negative return on equity of 27.71% and a negative net margin of 30.42%. Sell-side analysts forecast that Stem, Inc. will post -0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STEM shares. BMO Capital Markets dropped their price objective 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. Piper Sandler dropped their price objective on shares of Stem from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. TD Cowen dropped their price objective on shares of Stem from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Susquehanna dropped their price objective on shares of Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $2.50 price objective (down from $5.50) on shares of Stem in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.96.

Institutional Investors Weigh In On Stem

A number of large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Stem by 7.3% in the third quarter. Bank of New York Mellon Corp now owns 646,918 shares of the company’s stock worth $2,743,000 after acquiring an additional 43,859 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Stem by 16.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,187 shares of the company’s stock worth $149,000 after purchasing an additional 4,924 shares during the last quarter. SCP Investment LP raised its holdings in Stem by 303.9% during the 3rd quarter. SCP Investment LP now owns 164,800 shares of the company’s stock worth $699,000 after purchasing an additional 124,000 shares during the last quarter. Olympiad Research LP bought a new position in Stem during the 3rd quarter worth approximately $305,000. Finally, Principal Financial Group Inc. raised its holdings in Stem by 39.3% during the 3rd quarter. Principal Financial Group Inc. now owns 21,067 shares of the company’s stock worth $89,000 after purchasing an additional 5,941 shares during 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.