Stem (NYSE:STEM) Given New $5.00 Price Target at Evercore ISI

Stem (NYSE:STEM) had its price target decreased by Evercore ISI from $9.00 to $5.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock.

STEM has been the subject of a number of other research reports. TD Cowen downgraded shares of Stem from a “buy” rating to a “hold” rating and cut their price objective for the company from $4.00 to $1.00 in a report on Wednesday. BMO Capital Markets reduced their price target on Stem from $2.50 to $1.85 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Piper Sandler cut their price objective on shares of Stem from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. The Goldman Sachs Group lowered their price objective on Stem from $2.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Susquehanna decreased their price target on Stem from $2.50 to $2.00 and set a “positive” rating on the stock in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stem currently has a consensus rating of “Hold” and an average price target of $3.10.

Stem Price Performance

Shares of NYSE STEM traded down $0.42 during midday trading on Wednesday, hitting $0.57. The stock had a trading volume of 17,227,303 shares, compared to its average volume of 4,514,759. The company has a quick ratio of 1.61, a current ratio of 1.71 and a debt-to-equity ratio of 1.41. The stock has a 50 day simple moving average of $1.21 and a 200-day simple moving average of $1.82. The company has a market capitalization of $92.93 million, a PE ratio of -0.37 and a beta of 1.75. Stem has a 1 year low of $0.53 and a 1 year high of $6.92.

Institutional Investors Weigh In On Stem

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Stem during the fourth quarter worth about $209,000. International Assets Investment Management LLC increased its position in Stem by 363.3% during the fourth quarter. International Assets Investment Management LLC now owns 138,516 shares of the company’s stock worth $537,000 after buying an additional 108,616 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Stem by 24.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,693 shares of the company’s stock valued at $170,000 after buying an additional 8,506 shares during the last quarter. abrdn plc purchased a new stake in Stem in the fourth quarter valued at approximately $40,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Stem by 6.9% in the fourth quarter. New York State Common Retirement Fund now owns 59,491 shares of the company’s stock valued at $231,000 after acquiring an additional 3,855 shares during the period. 61.63% of the stock is owned by hedge funds and other institutional investors.

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.