Stem, Inc. (NYSE:STEM) Shares Acquired by SCP Investment LP

SCP Investment LP lifted its holdings in shares of Stem, Inc. (NYSE:STEM) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,600 shares of the company’s stock after buying an additional 7,800 shares during the period. Stem makes up about 0.7% of SCP Investment LP’s investment portfolio, making the stock its 13th largest holding. SCP Investment LP owned about 0.11% of Stem worth $734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund boosted its holdings in Stem by 6.9% during the fourth quarter. New York State Common Retirement Fund now owns 59,491 shares of the company’s stock valued at $231,000 after acquiring an additional 3,855 shares during the period. Victory Capital Management Inc. raised its position 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 buying an additional 3,955 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Stem by 16.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,187 shares of the company’s stock valued at $149,000 after buying an additional 4,924 shares during the last quarter. Swiss National Bank raised its position in shares of Stem by 1.6% during the third quarter. Swiss National Bank now owns 324,800 shares of the company’s stock valued at $1,377,000 after buying an additional 5,100 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Stem by 39.3% during the third quarter. Principal Financial Group Inc. now owns 21,067 shares of the company’s stock valued at $89,000 after buying an additional 5,941 shares during the last quarter. 61.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stem

In other Stem news, insider Saul R. Laureles sold 10,959 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $3.17, for a total transaction of $34,740.03. Following the transaction, the insider now owns 80,003 shares of the company’s stock, valued at approximately $253,609.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stem news, insider Saul R. Laureles sold 10,959 shares of Stem stock in a transaction on Friday, February 16th. The shares were sold at an average price of $3.17, for a total transaction of $34,740.03. Following the completion of the transaction, the insider now directly owns 80,003 shares of the company’s stock, valued at $253,609.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Eugene Carrington sold 194,171 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $1.85, for a total transaction of $359,216.35. Following the completion of the transaction, the chief executive officer now owns 506,585 shares in the company, valued at approximately $937,182.25. The disclosure for this sale can be found here. In the last quarter, insiders have bought 130,418 shares of company stock valued at $238,045 and have sold 772,268 shares valued at $1,650,229. 10.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on STEM shares. BMO Capital Markets cut their price objective 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. TD Cowen dropped their price target on shares of Stem from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. The Goldman Sachs Group reduced their price target on shares of Stem from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday. Susquehanna cut their price target on Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. Finally, Piper Sandler lowered their price objective on Stem from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.77.

Stem Stock Down 1.5 %

Shares of NYSE:STEM traded down $0.02 during trading on Thursday, hitting $1.34. 3,020,014 shares of the company’s stock traded hands, compared to its average volume of 4,768,073. Stem, Inc. has a 52 week low of $1.27 and a 52 week high of $7.79. The company has a current ratio of 1.88, a quick ratio of 1.78 and a debt-to-equity ratio of 1.23. The company has a market cap of $211.41 million, a price-to-earnings ratio of -0.92 and a beta of 1.91. The company has a 50-day moving average price of $1.90 and a 200-day moving average price of $2.78.

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

Stem 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.