Piper Sandler Cuts Stem (NYSE:STEM) Price Target to $0.30

Stem (NYSE:STEM) had its price target decreased by Piper Sandler from $1.50 to $0.30 in a research report released on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research analysts also recently commented on the company. Barclays reduced their target price on Stem from $4.00 to $1.00 and set an “equal weight” rating on the stock in a report on Friday, October 18th. TD Cowen cut Stem from a “buy” rating to a “hold” rating and reduced their target price for the stock from $4.00 to $1.00 in a report on Wednesday, August 7th. The Goldman Sachs Group cut their price objective on shares of Stem from $0.75 to $0.65 and set a “neutral” rating on the stock in a research report on Friday, November 1st. UBS Group dropped their target price on Stem from $1.00 to $0.60 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Evercore ISI lowered their price objective on shares of Stem from $9.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1.67.

Stem Stock Up 9.0 %

Shares of STEM opened at $0.39 on Friday. The company has a 50-day moving average price of $0.43 and a two-hundred day moving average price of $0.81. Stem has a 12 month low of $0.30 and a 12 month high of $4.30. The stock has a market cap of $63.77 million, a price-to-earnings ratio of -0.08 and a beta of 1.65. The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 1.41.

Institutional Investors Weigh In On Stem

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in Stem in the 3rd quarter valued at $25,000. Barclays PLC boosted its holdings in Stem by 213.1% in the third quarter. Barclays PLC now owns 235,336 shares of the company’s stock valued at $81,000 after acquiring an additional 160,165 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Stem by 4.8% during the third quarter. Geode Capital Management LLC now owns 3,604,073 shares of the company’s stock worth $1,255,000 after buying an additional 166,002 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Stem by 77.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,406,080 shares of the company’s stock worth $837,000 after acquiring an additional 1,047,825 shares in the last quarter. Finally, SCP Investment LP lifted its stake in Stem by 36.9% in the third quarter. SCP Investment LP now owns 370,888 shares of the company’s stock valued at $129,000 after buying an additional 100,000 shares during the period. 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.