Barclays PLC Increases Stock Position in Stem, Inc. (NYSE:STEM)

Barclays PLC lifted its holdings in shares of Stem, Inc. (NYSE:STEM) by 213.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,336 shares of the company’s stock after purchasing an additional 160,165 shares during the period. Barclays PLC owned about 0.14% of Stem worth $81,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of STEM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Stem by 77.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,406,080 shares of the company’s stock valued at $837,000 after buying an additional 1,047,825 shares during the last quarter. AQR Capital Management LLC raised its holdings in Stem by 5,770.4% in the 2nd quarter. AQR Capital Management LLC now owns 777,648 shares of the company’s stock valued at $863,000 after acquiring an additional 764,401 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Stem by 4,330.5% during the 2nd quarter. Squarepoint Ops LLC now owns 491,251 shares of the company’s stock worth $545,000 after purchasing an additional 480,163 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Stem during the second quarter worth $405,000. Finally, Geode Capital Management LLC grew its position in shares of Stem by 4.8% in the third quarter. Geode Capital Management LLC now owns 3,604,073 shares of the company’s stock valued at $1,255,000 after purchasing an additional 166,002 shares during the period. 61.63% of the stock is currently owned by institutional investors and hedge funds.

Stem Trading Up 13.4 %

Shares of NYSE STEM opened at $0.78 on Friday. The stock has a fifty day moving average price of $0.54 and a 200 day moving average price of $0.61. The company has a market cap of $127.60 million, a P/E ratio of -0.15 and a beta of 1.43. Stem, Inc. has a 12-month low of $0.30 and a 12-month high of $3.58.

Stem (NYSE:STEM) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The company had revenue of $29.29 million during the quarter, compared to analysts’ expectations of $39.99 million. Stem had a negative return on equity of 275.79% and a negative net margin of 328.11%. During the same quarter in the prior year, the company earned ($0.17) EPS. On average, sell-side analysts forecast that Stem, Inc. will post -0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Piper Sandler reduced their target price on Stem from $1.50 to $0.30 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Barclays decreased their target price on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Friday, October 18th. Susquehanna upped their price target on shares of Stem from $0.50 to $0.60 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of Stem from $0.75 to $0.65 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, UBS Group lowered their price objective on shares of Stem from $1.00 to $0.60 and set a “buy” rating for the company in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $1.38.

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.