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

Stem (NYSE:STEM) had its price target lowered by BMO Capital Markets from $0.50 to $0.40 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Several other research firms have also weighed in on STEM. Piper Sandler lowered their target price on shares of Stem from $1.50 to $0.30 and set a “neutral” rating on the stock in a report on Friday, November 22nd. UBS Group lowered their target price on shares of Stem from $1.00 to $0.60 and set a “buy” rating on the stock in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stem currently has an average rating of “Hold” and a consensus target price of $1.11.

Stem Stock Performance

Shares of STEM stock opened at $0.52 on Wednesday. Stem has a 52-week low of $0.30 and a 52-week high of $2.34. The stock has a market cap of $84.79 million, a price-to-earnings ratio of -0.10 and a beta of 1.43. The firm has a fifty day moving average of $0.65 and a 200-day moving average of $0.51.

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

Institutional Investors Weigh In On Stem

A number of hedge funds have recently added to or reduced their stakes in STEM. Deutsche Bank AG boosted its stake in shares of Stem by 102.9% in the 4th quarter. Deutsche Bank AG now owns 622,731 shares of the company’s stock valued at $374,000 after purchasing an additional 315,823 shares during the last quarter. Collar Capital Management LLC acquired a new stake in Stem during the 4th quarter worth approximately $223,000. Balyasny Asset Management L.P. raised its holdings in shares of Stem by 569.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 121,381 shares of the company’s stock valued at $73,000 after purchasing an additional 103,254 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Stem by 25.3% in the fourth quarter. Bank of America Corp DE now owns 183,840 shares of the company’s stock valued at $111,000 after purchasing an additional 37,115 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Stem in the fourth quarter valued at approximately $480,000. 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.