Oppenheimer & Co. Inc. Cuts Stock Position in Stem, Inc. (NYSE:STEM)

Oppenheimer & Co. Inc. lessened its holdings in shares of Stem, Inc. (NYSE:STEM) by 22.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,156 shares of the company’s stock after selling 30,339 shares during the period. Oppenheimer & Co. Inc.’s holdings in Stem were worth $37,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of STEM. SIR Capital Management L.P. raised its position in Stem by 327.0% in the second quarter. SIR Capital Management L.P. now owns 1,578,575 shares of the company’s stock worth $1,752,000 after acquiring an additional 1,208,875 shares in the last quarter. AQR Capital Management LLC raised its position in Stem by 5,770.4% in the second quarter. AQR Capital Management LLC now owns 777,648 shares of the company’s stock worth $863,000 after acquiring an additional 764,401 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Stem by 181.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 856,092 shares of the company’s stock worth $950,000 after acquiring an additional 551,492 shares in the last quarter. Squarepoint Ops LLC raised its position in Stem by 4,330.5% in the second quarter. Squarepoint Ops LLC now owns 491,251 shares of the company’s stock worth $545,000 after acquiring an additional 480,163 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Stem in the second quarter worth $405,000. Hedge funds and other institutional investors own 61.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on STEM shares. Piper Sandler cut their price objective on Stem from $1.50 to $0.30 and set a “neutral” rating for the company in a research report on Friday. UBS Group dropped their price target on Stem from $1.00 to $0.60 and set a “buy” rating for the company in a research report on Friday, November 8th. Susquehanna raised their price target on Stem from $0.50 to $0.60 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Evercore ISI dropped their price target on Stem from $9.00 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, TD Cowen cut Stem from a “buy” rating to a “hold” rating and dropped their price target for the company from $4.00 to $1.00 in a research report on Wednesday, August 7th. Seven equities 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, the company presently has a consensus rating of “Hold” and an average price target of $1.67.

Stem Trading Up 9.0 %

Stem stock opened at $0.39 on Friday. The stock has a market cap of $63.77 million, a PE ratio of -0.08 and a beta of 1.65. The stock has a 50-day moving average price of $0.43 and a 200 day moving average price of $0.82. Stem, Inc. has a 52 week low of $0.30 and a 52 week high of $4.30. The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 1.41.

Stem Company Profile

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.