Stem, Inc. (NYSE:STEM) CEO John Eugene Carrington Sells 194,171 Shares

Stem, Inc. (NYSE:STEM) CEO John Eugene Carrington sold 194,171 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $1.85, for a total value of $359,216.35. Following the sale, the chief executive officer now directly owns 506,585 shares in the company, valued at approximately $937,182.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

John Eugene Carrington also recently made the following trade(s):

• On Friday, March 8th, John Eugene Carrington sold 85,038 shares of Stem stock. The shares were sold at an average price of $2.19, for a total transaction of $186,233.22.
• On Tuesday, February 27th, John Eugene Carrington sold 13,863 shares of Stem stock. The stock was sold at an average price of $2.70, for a total transaction of $37,430.10.

Stem Trading Down 7.5 %

Shares of Stem stock opened at $1.30 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 1.23. The firm has a market cap of $204.31 million, a price-to-earnings ratio of -0.89 and a beta of 1.91. Stem, Inc. has a 52-week low of $1.28 and a 52-week high of $7.79. The company’s 50-day simple moving average is $1.95 and its 200-day simple moving average is $2.80.

Stem (NYSE:STEM) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.25). Stem had a negative return on equity of 34.37% and a negative net margin of 40.03%. The company had revenue of $25.50 million for the quarter, compared to analyst estimates of $66.67 million. During the same period last year, the company earned ($0.29) earnings per share. The business’s revenue for the quarter was down 61.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stem, Inc. will post -0.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STEM. BMO Capital Markets reduced their price target on shares of Stem from $2.50 to $1.85 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Evercore ISI decreased their target price on Stem from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Piper Sandler dropped their price target on Stem from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. TD Cowen reduced their price objective on Stem from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group lowered their target price on shares of Stem from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stem currently has a consensus rating of “Hold” and a consensus target price of $5.20.

Hedge Funds Weigh In On Stem

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund raised its stake in shares of Stem by 6.9% during the 4th quarter. New York State Common Retirement Fund now owns 59,491 shares of the company’s stock worth $231,000 after buying an additional 3,855 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Stem by 25.4% during the fourth quarter. Victory Capital Management Inc. now owns 19,536 shares of the company’s stock valued at $76,000 after acquiring an additional 3,955 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 in the last quarter. Swiss National Bank raised its stake in Stem by 1.6% in the 3rd quarter. Swiss National Bank now owns 324,800 shares of the company’s stock valued at $1,377,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of 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 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.