Stem (NYSE:STEM) Announces Earnings Results

Stem (NYSE:STEM) issued its quarterly earnings results on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.25), RTT News reports. Stem had a negative return on equity of 27.71% and a negative net margin of 30.42%. The business had revenue of $25.50 million during the quarter, compared to analysts’ expectations of $66.67 million. During the same quarter in the previous year, the company posted ($0.29) EPS. The company’s quarterly revenue was down 61.9% on a year-over-year basis.

Stem Price Performance

STEM stock traded up $0.06 during mid-day trading on Thursday, reaching $1.91. The company’s stock had a trading volume of 2,588,655 shares, compared to its average volume of 4,602,016. The stock has a market cap of $301.34 million, a PE ratio of -1.48 and a beta of 1.91. The company has a current ratio of 1.88, a quick ratio of 1.78 and a debt-to-equity ratio of 1.23. Stem has a fifty-two week low of $1.46 and a fifty-two week high of $7.79. The company’s 50 day moving average is $2.02 and its two-hundred day moving average is $2.86.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Piper Sandler cut their price target on Stem from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $2.50 price objective (down previously from $5.50) on shares of Stem in a report on Friday, March 22nd. BMO Capital Markets dropped their price objective on shares of Stem from $4.00 to $3.25 and set a “market perform” rating for the company in a 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 for the company in a report on Thursday, February 29th. Finally, TD Cowen dropped their price objective on shares of Stem from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.96.

Insider Activity

In other news, CFO William John Bush sold 20,367 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $3.17, for a total value of $64,563.39. Following the completion of the sale, the chief financial officer now owns 276,814 shares of the company’s stock, valued at approximately $877,500.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Stem news, COO Michael James Carlson sold 9,952 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $3.17, for a total value of $31,547.84. Following the completion of the transaction, the chief operating officer now owns 20,367 shares of the company’s stock, valued at approximately $64,563.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William John Bush sold 20,367 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $3.17, for a total transaction of $64,563.39. Following the completion of the transaction, the chief financial officer now directly owns 276,814 shares of the company’s stock, valued at approximately $877,500.38. The disclosure for this sale can be found here. In the last 90 days, insiders bought 130,418 shares of company stock valued at $238,045 and sold 578,097 shares valued at $1,291,013. Corporate insiders own 10.17% of the company’s stock.

Stem Company Profile

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.