UBS Group Cuts Stem (NYSE:STEM) Price Target to $1.00

Stem (NYSE:STEM) had its price target lowered by UBS Group from $2.50 to $1.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. TD Cowen lowered Stem from a buy rating to a hold rating and dropped their price objective for the company from $4.00 to $1.00 in a research note on Wednesday. The Goldman Sachs Group dropped their price target on Stem from $2.50 to $2.00 and set a neutral rating on the stock in a research note on Monday, May 6th. BMO Capital Markets reduced 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. Piper Sandler dropped their price objective on shares of Stem from $3.00 to $2.00 and set a neutral rating on the stock in a research report on Thursday, April 11th. Finally, Evercore ISI reduced their target price on shares of Stem from $9.00 to $5.00 and set an outperform rating for the company in a report on Wednesday. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Stem currently has an average rating of Hold and an average target price of $2.71.

Stem Stock Up 5.1 %

STEM traded up $0.03 on Thursday, hitting $0.58. 9,766,574 shares of the company were exchanged, compared to its average volume of 4,711,392. The company has a market cap of $93.30 million, a PE ratio of -0.41 and a beta of 1.75. Stem has a 12 month low of $0.53 and a 12 month high of $6.70. The stock’s fifty day moving average is $1.18 and its 200-day moving average is $1.81. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.61 and a current ratio of 1.71.

Stem (NYSE:STEM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $34.00 million during the quarter, compared to the consensus estimate of $64.06 million. Stem had a negative net margin of 213.33% and a negative return on equity of 40.21%. The company’s quarterly revenue was down 63.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.56) EPS. Equities research analysts predict that Stem will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Stem

A number of hedge funds have recently added to or reduced their stakes in STEM. Schroder Investment Management Group grew its holdings in shares of Stem by 3.3% during the 4th quarter. Schroder Investment Management Group now owns 11,431,320 shares of the company’s stock worth $44,354,000 after purchasing an additional 360,232 shares in the last quarter. BNP Paribas Asset Management Holding S.A. lifted its position in Stem by 4.7% during the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 6,637,625 shares of the company’s stock worth $25,754,000 after purchasing an additional 296,291 shares during the period. Rock Point Advisors LLC grew its stake in Stem by 7.3% during the second quarter. Rock Point Advisors LLC now owns 1,618,589 shares of the company’s stock worth $1,797,000 after buying an additional 109,810 shares in the last quarter. SIR Capital Management L.P. increased its holdings in Stem by 327.0% in the 2nd quarter. SIR Capital Management L.P. now owns 1,578,575 shares of the company’s stock valued at $1,752,000 after buying an additional 1,208,875 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Stem by 181.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 856,092 shares of the company’s stock valued at $950,000 after buying an additional 551,492 shares in the last quarter. 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.