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

Geode Capital Management LLC boosted its stake in Stem, Inc. (NYSE:STEMFree Report) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,604,073 shares of the company’s stock after purchasing an additional 166,002 shares during the period. Geode Capital Management LLC’s holdings in Stem were worth $1,255,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in STEM. Rhumbline Advisers increased its position in Stem by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 262,408 shares of the company’s stock valued at $291,000 after acquiring an additional 21,249 shares during the period. Rock Point Advisors LLC grew its position in shares of Stem by 7.3% in the 2nd quarter. Rock Point Advisors LLC now owns 1,618,589 shares of the company’s stock valued at $1,797,000 after buying an additional 109,810 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Stem in the second quarter worth approximately $30,000. Hsbc Holdings PLC raised its holdings in Stem by 7.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,039,420 shares of the company’s stock worth $1,133,000 after purchasing an additional 71,956 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Stem by 4,330.5% in the 2nd quarter. Squarepoint Ops LLC now owns 491,251 shares of the company’s stock valued at $545,000 after purchasing an additional 480,163 shares during the last quarter. Institutional investors and hedge funds own 61.63% of the company’s stock.

Stem Stock Down 26.0 %

Stem stock opened at $0.84 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 1.41. The firm’s fifty day moving average price is $0.47 and its two-hundred day moving average price is $0.64. The firm has a market capitalization of $136.14 million, a price-to-earnings ratio of -0.16 and a beta of 1.43. Stem, Inc. has a 1-year low of $0.30 and a 1-year high of $3.80.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group cut their price target on shares of Stem from $1.00 to $0.60 and set a “buy” rating on the stock in a research report on Friday, November 8th. Piper Sandler dropped their price target on Stem from $1.50 to $0.30 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Susquehanna increased their price target on Stem from $0.50 to $0.60 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Barclays dropped their target price on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Friday, October 18th. Finally, The Goldman Sachs Group reduced their price target 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Stem presently has an average rating of “Hold” and an average price target of $1.38.

Get Our Latest Analysis on STEM

About Stem

(Free Report)

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.

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Institutional Ownership by Quarter for Stem (NYSE:STEM)

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