Hsbc Holdings PLC Raises Stock Position in Stem, Inc. (NYSE:STEM)

Hsbc Holdings PLC lifted its stake in shares of Stem, Inc. (NYSE:STEM) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,039,420 shares of the company’s stock after buying an additional 71,956 shares during the quarter. Hsbc Holdings PLC owned about 0.64% of Stem worth $1,133,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Neuberger Berman Group LLC purchased a new stake in Stem in the 4th quarter valued at $41,000. Wellington Wealth Strategies LLC. purchased a new stake in Stem in the 4th quarter valued at $66,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Stem in the 2nd quarter valued at $30,000. Nisa Investment Advisors LLC raised its position in Stem by 2,416.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 28,507 shares of the company’s stock valued at $32,000 after purchasing an additional 27,374 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Stem by 73.9% in the 2nd quarter. SG Americas Securities LLC now owns 33,666 shares of the company’s stock valued at $37,000 after purchasing an additional 14,307 shares during the last quarter. Hedge funds and other institutional investors own 61.63% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Susquehanna downgraded shares of Stem from a “positive” rating to a “neutral” rating and reduced their price target for the company from $2.00 to $0.50 in a research report on Friday, August 9th. TD Cowen downgraded shares of Stem from a “buy” rating to a “hold” rating and cut their price objective for the stock from $4.00 to $1.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price objective on shares of Stem from $1.40 to $0.75 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Evercore ISI cut their price objective on shares of Stem from $9.00 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group cut their price objective on shares of Stem from $2.50 to $1.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.71.

Stem Stock Performance

NYSE:STEM opened at $0.33 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.66 and a debt-to-equity ratio of 1.41. Stem, Inc. has a fifty-two week low of $0.30 and a fifty-two week high of $4.42. The stock has a market cap of $53.54 million, a PE ratio of -0.23 and a beta of 1.70. The firm’s fifty day simple moving average is $0.66 and its 200-day simple moving average is $1.20.

Stem (NYSE:STEM) last issued 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 firm had revenue of $34.00 million for the quarter, compared to analysts’ expectations of $64.06 million. Stem had a negative net margin of 213.33% and a negative return on equity of 63.98%. The firm’s revenue was down 63.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.56) EPS. Analysts expect that Stem, Inc. will post -0.66 earnings per share 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.