BMO Capital Markets Cuts Stem (NYSE:STEM) Price Target to $0.40

Stem (NYSE:STEM) had its price objective cut by BMO Capital Markets from $0.50 to $0.40 in a report released on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other equities analysts have also recently weighed in on STEM. UBS Group lowered 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 objective on shares of Stem from $1.50 to $0.30 and set a “neutral” rating for the company in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stem has an average rating of “Hold” and a consensus price target of $1.11.

Stem Price Performance

NYSE:STEM opened at $0.44 on Wednesday. The firm’s 50-day moving average price is $0.65 and its 200-day moving average price is $0.51. The company has a market capitalization of $72.10 million, a PE ratio of -0.09 and a beta of 1.49. Stem has a 1-year low of $0.30 and a 1-year high of $2.28.

Stem (NYSE:STEM) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $55.83 million for the quarter, compared to analysts’ expectations of $47.89 million. Stem had a negative net margin of 328.11% and a negative return on equity of 275.79%. During the same quarter in the previous year, the business posted ($0.21) EPS. Equities analysts anticipate that Stem will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Stem

Large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Stem by 4.8% in the third quarter. Geode Capital Management LLC now owns 3,604,073 shares of the company’s stock valued at $1,255,000 after purchasing an additional 166,002 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Stem by 77.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,406,080 shares of the company’s stock valued at $837,000 after buying an additional 1,047,825 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Stem by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,295,149 shares of the company’s stock valued at $781,000 after buying an additional 76,320 shares during the period. BNP Paribas Financial Markets acquired a new position in Stem during the 4th quarter worth about $480,000. Finally, Wells Fargo & Company MN boosted its holdings in Stem by 8.7% during the 4th quarter. Wells Fargo & Company MN now owns 678,685 shares of the company’s stock valued at $409,000 after acquiring an additional 54,194 shares during the period. Institutional investors and hedge funds own 61.63% of the company’s stock.

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.