BMO Capital Markets Issues Pessimistic Forecast for Stem (NYSE:STEM) Stock Price

Stem (NYSE:STEM) had its target price reduced by research analysts at BMO Capital Markets from $0.50 to $0.40 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 9.71% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Piper Sandler cut their price target on Stem from $1.50 to $0.30 and set a “neutral” rating for the company in a research note on Friday, November 22nd. UBS Group dropped their price objective on Stem from $1.00 to $0.60 and set a “buy” rating on the stock in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Stem currently has an average rating of “Hold” and a consensus target price of $1.11.

Stem Price Performance

Shares of Stem stock opened at $0.44 on Wednesday. Stem has a 1 year low of $0.30 and a 1 year high of $2.28. The stock has a market cap of $72.10 million, a PE ratio of -0.09 and a beta of 1.49. The firm has a fifty day moving average price of $0.65 and a 200 day moving average price of $0.51.

Stem (NYSE:STEM) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Stem had a negative return on equity of 275.79% and a negative net margin of 328.11%. The company had revenue of $55.83 million during the quarter, compared to the consensus estimate of $47.89 million. During the same period in the previous year, the company posted ($0.21) earnings per share. As a group, equities analysts expect that Stem will post -0.52 EPS for the current year.

Hedge Funds Weigh In On Stem

A number of hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Stem by 77.1% during 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 worth $837,000 after purchasing an additional 1,047,825 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Stem during the 4th quarter worth $480,000. Collar Capital Management LLC purchased a new stake in shares of Stem during the fourth quarter worth $223,000. Canada Pension Plan Investment Board purchased a new stake in shares of Stem during the fourth quarter worth $203,000. Finally, Deutsche Bank AG raised its position in shares of Stem by 102.9% in the fourth quarter. Deutsche Bank AG now owns 622,731 shares of the company’s stock valued at $374,000 after buying an additional 315,823 shares during the last quarter. Institutional investors and hedge funds own 61.63% of the company’s stock.

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.