Piper Sandler Issues Pessimistic Forecast for Stem (NYSE:STEM) Stock Price

Stem (NYSE:STEM) had its price target cut by Piper Sandler from $1.50 to $0.30 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently commented on the stock. Barclays lowered their target price on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating for the company in a research note on Friday, October 18th. Susquehanna raised their price objective on Stem from $0.50 to $0.60 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on shares of 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 price target on Stem from $9.00 to $5.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, TD Cowen downgraded Stem from a “buy” rating to a “hold” rating and reduced their target price for the stock from $4.00 to $1.00 in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Stem has a consensus rating of “Hold” and a consensus price target of $1.67.

Stem Stock Performance

STEM opened at $0.40 on Friday. The stock has a market cap of $65.20 million, a P/E ratio of -0.08 and a beta of 1.65. 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 has a 1-year low of $0.30 and a 1-year high of $4.30. The stock’s 50 day simple moving average is $0.43 and its 200 day simple moving average is $0.81.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of STEM. Virtu Financial LLC acquired a new position in shares of Stem during the third quarter valued at $25,000. Barclays PLC lifted its position 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 acquiring an additional 160,165 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Stem by 4.8% during the third quarter. Geode Capital Management LLC now owns 3,604,073 shares of the company’s stock worth $1,255,000 after buying an additional 166,002 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Stem by 77.1% during the 3rd 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 acquiring an additional 1,047,825 shares in the last quarter. Finally, SCP Investment LP boosted its stake in shares of Stem by 36.9% during the 3rd quarter. SCP Investment LP now owns 370,888 shares of the company’s stock worth $129,000 after buying an additional 100,000 shares during the last quarter. 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.