125,000 Shares in Stem, Inc. (NYSE:STEM) Bought by Steele Capital Management Inc.

Steele Capital Management Inc. bought a new position in Stem, Inc. (NYSE:STEM) during the 4th quarter, HoldingsChannel reports. The fund bought 125,000 shares of the company’s stock, valued at approximately $485,000.

Several other hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund increased its position in Stem by 6.9% during the 4th quarter. New York State Common Retirement Fund now owns 59,491 shares of the company’s stock valued at $231,000 after purchasing an additional 3,855 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Stem by 16.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,187 shares of the company’s stock valued at $149,000 after buying an additional 4,924 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Stem by 1.6% during the 3rd quarter. Swiss National Bank now owns 324,800 shares of the company’s stock valued at $1,377,000 after buying an additional 5,100 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Stem by 39.3% during the 3rd quarter. Principal Financial Group Inc. now owns 21,067 shares of the company’s stock valued at $89,000 after buying an additional 5,941 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Stem by 54.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 21,025 shares of the company’s stock valued at $89,000 after buying an additional 7,415 shares in the last quarter. 61.63% of the stock is owned by hedge funds and other institutional investors.

Stem Stock Performance

Stem stock traded up $0.06 during midday trading on Monday, hitting $1.90. The stock had a trading volume of 2,740,364 shares, compared to its average volume of 4,673,386. The firm’s fifty day moving average is $2.09 and its two-hundred day moving average is $2.89. The company has a market capitalization of $298.97 million, a PE ratio of -1.46 and a beta of 1.88. Stem, Inc. has a 52-week low of $1.46 and a 52-week high of $7.79. The company has a current ratio of 1.88, a quick ratio of 1.78 and a debt-to-equity ratio of 1.23.

Stem (NYSE:STEM) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The firm had revenue of $167.42 million for the quarter, compared to analysts’ expectations of $254.23 million. Stem had a negative net margin of 30.42% and a negative return on equity of 27.71%. On average, research analysts forecast that Stem, Inc. will post -0.51 EPS for the current year.

Insider Buying and Selling at Stem

In other Stem news, insider Saul R. Laureles sold 9,893 shares of Stem stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $3.23, for a total value of $31,954.39. Following the transaction, the insider now owns 56,226 shares in the company, valued at $181,609.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stem news, CRO Alan Russo sold 14,390 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $45,616.30. Following the completion of the sale, the executive now owns 158,204 shares of the company’s stock, valued at $501,506.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Saul R. Laureles sold 9,893 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $3.23, for a total value of $31,954.39. Following the completion of the sale, the insider now directly owns 56,226 shares of the company’s stock, valued at approximately $181,609.98. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 130,418 shares of company stock worth $238,045 and have sold 515,950 shares worth $1,188,252. 10.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STEM. TD Cowen dropped their price target on shares of Stem from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Piper Sandler dropped their price target on shares of Stem from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Susquehanna dropped their price target on shares of Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. BMO Capital Markets dropped their price target on shares of Stem from $4.00 to $3.25 and set a “market perform” rating on the stock in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $2.50 target price (down previously from $5.50) on shares of Stem in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.96.

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.