Brokerages Set Stem, Inc. (NYSE:STEM) Price Target at $1.38

Stem, Inc. (NYSE:STEM) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $1.38.

Several analysts have recently weighed in on STEM shares. Barclays dropped their price target on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating for the company in a research note on Friday, October 18th. UBS Group cut their target price on Stem from $1.00 to $0.60 and set a “buy” rating for the company in a research note on Friday, November 8th. Susquehanna lifted their target price on Stem from $0.50 to $0.60 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on Stem from $0.75 to $0.65 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Piper Sandler reduced their price objective 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.

Hedge Funds Weigh In On Stem

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in Stem by 73.9% during the second quarter. SG Americas Securities LLC now owns 33,666 shares of the company’s stock worth $37,000 after purchasing an additional 14,307 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Stem by 2,416.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 28,507 shares of the company’s stock worth $32,000 after buying an additional 27,374 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in 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 during the period. Rhumbline Advisers boosted its position in Stem by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 262,408 shares of the company’s stock valued at $291,000 after buying an additional 21,249 shares during the period. Finally, Levin Capital Strategies L.P. grew its stake in shares of Stem by 69.2% in the second quarter. Levin Capital Strategies L.P. now owns 660,000 shares of the company’s stock worth $733,000 after acquiring an additional 270,000 shares in the last quarter. Institutional investors and hedge funds own 61.63% of the company’s stock.

Stem Price Performance

Stem stock opened at $0.59 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average price of $0.40 and a 200 day moving average price of $0.66. Stem has a 12-month low of $0.30 and a 12-month high of $4.12. The stock has a market cap of $96.77 million, a P/E ratio of -0.11 and a beta of 1.64.

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.