Stem, Inc. (NYSE:STEM) Insider Prakesh Patel Sells 23,863 Shares

Stem, Inc. (NYSE:STEM) insider Prakesh Patel sold 23,863 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $1.87, for a total value of $44,623.81. Following the completion of the sale, the insider now directly owns 181,668 shares of the company’s stock, valued at approximately $339,719.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Stem Stock Performance

Shares of STEM stock opened at $1.85 on Thursday. The stock has a fifty day moving average of $2.04 and a 200 day moving average of $2.86. Stem, Inc. has a 52 week low of $1.46 and a 52 week high of $7.79. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 1.23.

Stem (NYSE:STEM) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). Stem had a negative return on equity of 27.71% and a negative net margin of 30.42%. The business had revenue of $167.42 million during the quarter, compared to analysts’ expectations of $254.23 million. As a group, research analysts predict that Stem, Inc. will post -0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Stem

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Stem by 90.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,575 shares of the company’s stock worth $487,000 after acquiring an additional 105,643 shares during the period. SCP Investment LP lifted its position in Stem by 4.7% during the fourth quarter. SCP Investment LP now owns 172,600 shares of the company’s stock valued at $734,000 after buying an additional 7,800 shares during the period. Virtu Financial LLC purchased a new position in Stem during the fourth quarter valued at $228,000. Clarity Capital Partners LLC purchased a new position in Stem during the fourth quarter valued at $392,000. Finally, Wellington Wealth Strategies LLC. purchased a new position in Stem during the fourth quarter valued at $66,000. Hedge funds and other institutional investors 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.