State Street Corp Sells 87,505 Shares of Stem, Inc. (NYSE:STEM)

State Street Corp reduced its position in shares of Stem, Inc. (NYSE:STEM) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,880,267 shares of the company’s stock after selling 87,505 shares during the period. State Street Corp owned about 3.00% of Stem worth $1,699,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Stem in the second quarter worth $30,000. Creative Planning raised its position in Stem by 177.1% during the third quarter. Creative Planning now owns 123,521 shares of the company’s stock worth $43,000 after acquiring an additional 78,940 shares in the last quarter. SCP Investment LP lifted its position in shares of Stem by 36.9% in the third quarter. SCP Investment LP now owns 370,888 shares of the company’s stock valued at $129,000 after buying an additional 100,000 shares during the last quarter. Rhumbline Advisers raised its position in shares of Stem by 8.8% in the second quarter. Rhumbline Advisers now owns 262,408 shares of the company’s stock valued at $291,000 after purchasing an additional 21,249 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Stem in the 2nd quarter valued at about $405,000. Institutional investors own 61.63% of the company’s stock.

Stem Trading Down 19.4 %

NYSE:STEM opened at $0.60 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $98.14 million, a P/E ratio of -0.12 and a beta of 1.64. Stem, Inc. has a 52 week low of $0.30 and a 52 week high of $4.00. The company has a fifty day moving average of $0.41 and a 200 day moving average of $0.65.

Analyst Ratings Changes

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