The Goldman Sachs Group Has Lowered Expectations for Stem (NYSE:STEM) Stock Price

Stem (NYSE:STEM) had its price objective reduced by stock analysts at The Goldman Sachs Group from $0.75 to $0.65 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 64.06% from the company’s current price.

Several other brokerages have also recently commented on STEM. TD Cowen cut 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 report on Wednesday, August 7th. UBS Group dropped their target price on Stem from $2.50 to $1.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Barclays dropped their target price on Stem from $4.00 to $1.00 and set an “equal weight” rating for the company in a report on Friday, October 18th. Susquehanna upped their target price on Stem from $0.50 to $0.60 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Evercore ISI dropped their target price on Stem from $9.00 to $5.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Stem currently has an average rating of “Hold” and an average target price of $2.08.

Stem Stock Performance

Shares of Stem stock traded up $0.02 on Friday, reaching $0.40. 5,176,683 shares of the stock were exchanged, compared to its average volume of 5,482,804. The company has a quick ratio of 1.51, a current ratio of 1.66 and a debt-to-equity ratio of 1.41. Stem has a twelve month low of $0.30 and a twelve month high of $4.30. The firm has a market capitalization of $64.43 million, a price-to-earnings ratio of -0.08 and a beta of 1.68. The business has a 50 day moving average price of $0.48 and a two-hundred day moving average price of $0.96.

Stem (NYSE:STEM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $34.00 million during the quarter, compared to the consensus estimate of $64.06 million. Stem had a negative return on equity of 87.61% and a negative net margin of 328.11%. Stem’s revenue for the quarter was down 63.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.56) earnings per share. Analysts anticipate that Stem will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stem

Several large investors have recently modified their holdings of STEM. Vanguard Personalized Indexing Management LLC acquired a new position in Stem during the 2nd quarter worth about $30,000. Nisa Investment Advisors LLC lifted its stake in Stem by 2,416.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 28,507 shares of the company’s stock worth $32,000 after acquiring an additional 27,374 shares in the last quarter. SG Americas Securities LLC lifted its stake in Stem by 73.9% during the 2nd quarter. SG Americas Securities LLC now owns 33,666 shares of the company’s stock worth $37,000 after acquiring an additional 14,307 shares in the last quarter. Creative Planning lifted its stake in Stem by 177.1% during the 3rd 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. Finally, Cetera Advisors LLC acquired a new position in Stem during the 1st quarter worth about $179,000. 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.