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

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

Several other research firms have also weighed in on STEM. UBS Group lowered 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. Evercore ISI dropped their price objective on shares of Stem from $9.00 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. TD Cowen lowered Stem from a “buy” rating to a “hold” rating and dropped their price target for the stock from $4.00 to $1.00 in a research note on Wednesday, August 7th. Susquehanna increased their price target on Stem from $0.50 to $0.60 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their target price on shares of Stem from $0.75 to $0.65 and set a “neutral” rating for the company in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1.67.

Stem Stock Performance

Shares of STEM stock opened at $0.39 on Friday. The stock has a 50 day simple moving average of $0.43 and a 200-day simple moving average of $0.81. Stem has a 12-month low of $0.30 and a 12-month high of $4.30. The company 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 current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 1.41.

Institutional Trading of Stem

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in Stem by 904.0% in the 1st quarter. Tidal Investments LLC now owns 121,741 shares of the company’s stock valued at $267,000 after purchasing an additional 109,616 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Stem by 181.1% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 856,092 shares of the company’s stock valued at $950,000 after acquiring an additional 551,492 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Stem by 45.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 158,102 shares of the company’s stock worth $347,000 after buying an additional 49,713 shares during the period. Creative Planning increased its holdings in shares of Stem by 177.1% in the 3rd quarter. Creative Planning now owns 123,521 shares of the company’s stock valued at $43,000 after purchasing an additional 78,940 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Stem by 2,416.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 28,507 shares of the company’s stock valued at $32,000 after buying an additional 27,374 shares during the period. Institutional investors own 61.63% of the company’s stock.

Stem Company Profile

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.