Stem (NYSE:STEM) Given New $0.30 Price Target at Piper Sandler

Stem (NYSE:STEM) had its price objective decreased 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 analysts also recently issued reports on the company. TD Cowen downgraded Stem from a “buy” rating to a “hold” rating and decreased their target price for the company from $4.00 to $1.00 in a research note on Wednesday, August 7th. Barclays reduced their price target on Stem from $4.00 to $1.00 and set an “equal weight” rating for the company in a research report on Friday, October 18th. The Goldman Sachs Group reduced 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. Evercore ISI reduced their target price on Stem from $9.00 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, 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. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stem has an average rating of “Hold” and a consensus target price of $1.67.

Stem Trading Up 7.1 %

NYSE STEM opened at $0.39 on Friday. The stock’s 50-day moving average price is $0.43 and its 200-day moving average price is $0.82. The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 1.41. Stem has a 52 week low of $0.30 and a 52 week high of $4.30.

Institutional Investors Weigh In On Stem

Several institutional investors have recently modified their holdings of STEM. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Stem by 15.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 167,298 shares of the company’s stock worth $366,000 after acquiring an additional 22,703 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Stem by 45.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 158,102 shares of the company’s stock worth $347,000 after purchasing an additional 49,713 shares during the last quarter. Levin Capital Strategies L.P. raised its position in shares of Stem by 204.6% during the 1st quarter. Levin Capital Strategies L.P. now owns 390,000 shares of the company’s stock worth $854,000 after purchasing an additional 261,980 shares during the last quarter. Tidal Investments LLC raised its position in shares of Stem by 904.0% during the 1st quarter. Tidal Investments LLC now owns 121,741 shares of the company’s stock worth $267,000 after purchasing an additional 109,616 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Stem during the 1st quarter worth approximately $346,000. Hedge funds and other institutional investors 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.