State Street Corp Sells 87,505 Shares of Stem, Inc. (NYSE:STEM)

State Street Corp reduced its position in Stem, Inc. (NYSE:STEM) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,880,267 shares of the company’s stock after selling 87,505 shares during the period. State Street Corp’s holdings in Stem were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in STEM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Stem by 77.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,406,080 shares of the company’s stock worth $837,000 after acquiring an additional 1,047,825 shares during the period. Creative Planning raised its position in shares of Stem by 177.1% during the 3rd quarter. Creative Planning now owns 123,521 shares of the company’s stock valued at $43,000 after purchasing an additional 78,940 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Stem during the 2nd quarter valued at $405,000. Hsbc Holdings PLC lifted its stake in shares of Stem by 7.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,039,420 shares of the company’s stock valued at $1,133,000 after buying an additional 71,956 shares in the last quarter. Finally, Levin Capital Strategies L.P. raised its holdings in Stem by 69.2% during the second quarter. Levin Capital Strategies L.P. now owns 660,000 shares of the company’s stock valued at $733,000 after acquiring an additional 270,000 shares during the period. 61.63% of the stock is currently owned by institutional investors.

Stem Stock Performance

NYSE:STEM opened at $0.60 on Thursday. Stem, Inc. has a fifty-two week low of $0.30 and a fifty-two week high of $4.00. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.94 and a current ratio of 1.10. The company has a 50 day moving average price of $0.41 and a 200 day moving average price of $0.65. The stock has a market capitalization of $98.14 million, a P/E ratio of -0.12 and a beta of 1.64.

Analysts Set New Price Targets

Several research firms have recently commented on STEM. Barclays lowered their target price on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating on the stock in a report on Friday, October 18th. Piper Sandler cut their price objective on Stem from $1.50 to $0.30 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group dropped their price objective on Stem from $0.75 to $0.65 and set a “neutral” rating on the stock in a research note on Friday, November 1st. UBS Group reduced their price objective on shares of Stem from $1.00 to $0.60 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Susquehanna boosted their price objective on shares of Stem from $0.50 to $0.60 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Stem presently has an average rating of “Hold” and an average price target of $1.38.

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.