Geode Capital Management LLC Buys 166,002 Shares of Stem, Inc. (NYSE:STEM)

Geode Capital Management LLC lifted its stake in shares of Stem, Inc. (NYSE:STEM) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,604,073 shares of the company’s stock after purchasing an additional 166,002 shares during the period. Geode Capital Management LLC owned 2.21% of Stem worth $1,255,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in STEM. Vanguard Personalized Indexing Management LLC bought a new position in shares of Stem during the 2nd quarter worth approximately $30,000. Creative Planning increased its holdings in shares of Stem by 177.1% in the third 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 last quarter. Barclays PLC grew its stake in Stem by 213.1% in the 3rd quarter. Barclays PLC now owns 235,336 shares of the company’s stock valued at $81,000 after buying an additional 160,165 shares during the last quarter. SCP Investment LP raised its holdings in Stem by 36.9% in the 3rd quarter. SCP Investment LP now owns 370,888 shares of the company’s stock valued at $129,000 after acquiring an additional 100,000 shares during the period. Finally, Rhumbline Advisers lifted its position in Stem by 8.8% during the second quarter. Rhumbline Advisers now owns 262,408 shares of the company’s stock worth $291,000 after acquiring an additional 21,249 shares during the last quarter. Institutional investors and hedge funds own 61.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on STEM. Barclays lowered their target price 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. Susquehanna raised 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 objective on shares of Stem from $0.75 to $0.65 and set a “neutral” rating for the company in a report on Friday, November 1st. Piper Sandler lowered their target price on shares of Stem from $1.50 to $0.30 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Finally, UBS Group cut 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. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $1.38.

Stem Stock Down 26.0 %

Shares of STEM opened at $0.84 on Friday. The firm has a 50 day simple moving average of $0.47 and a two-hundred day simple moving average of $0.64. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.10 and a quick ratio of 0.94. Stem, Inc. has a one year low of $0.30 and a one year high of $3.80. The company has a market cap of $136.14 million, a P/E ratio of -0.16 and a beta of 1.43.

Stem 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.