Steele Capital Management Inc. Takes Position in Stem, Inc. (NYSE:STEM)

Steele Capital Management Inc. purchased a new stake in shares of Stem, Inc. (NYSE:STEM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 125,000 shares of the company’s stock, valued at approximately $485,000. Steele Capital Management Inc. owned approximately 0.08% of Stem as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. abrdn plc acquired a new position in shares of Stem during the fourth quarter valued at about $40,000. Sequoia Financial Advisors LLC acquired a new position in shares of Stem during the third quarter valued at about $55,000. Horizon Family Wealth Inc. bought a new stake in Stem in the third quarter valued at about $57,000. Principal Financial Group Inc. increased its stake in Stem by 39.3% in the third quarter. Principal Financial Group Inc. now owns 21,067 shares of the company’s stock valued at $89,000 after acquiring an additional 5,941 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Stem by 54.5% in the third quarter. Janney Montgomery Scott LLC now owns 21,025 shares of the company’s stock valued at $89,000 after acquiring an additional 7,415 shares during the period. 61.63% of the stock is currently owned by hedge funds and other institutional investors.

Stem Stock Up 3.6 %

Stem stock traded up $0.06 during mid-day trading on Monday, reaching $1.90. The company’s stock had a trading volume of 2,740,364 shares, compared to its average volume of 4,673,386. The company has a market capitalization of $298.97 million, a price-to-earnings ratio of -1.46 and a beta of 1.88. Stem, Inc. has a 12 month low of $1.46 and a 12 month high of $7.79. The business’s 50 day simple moving average is $2.09 and its 200 day simple moving average is $2.89. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.78 and a current ratio of 1.88.

Stem (NYSE:STEM) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). Stem had a negative net margin of 30.42% and a negative return on equity of 27.71%. The firm had revenue of $167.42 million during the quarter, compared to the consensus estimate of $254.23 million. As a group, research analysts anticipate that Stem, Inc. will post -0.51 earnings per share for the current year.

Insider Transactions at Stem

In related news, Director David S. Buzby bought 33,800 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $1.81 per share, for a total transaction of $61,178.00. Following the purchase, the director now owns 768,448 shares in the company, valued at approximately $1,390,890.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stem news, Director David S. Buzby acquired 33,800 shares of the business’s stock in a transaction on Monday, March 18th. The stock was purchased at an average price of $1.81 per share, with a total value of $61,178.00. Following the acquisition, the director now directly owns 768,448 shares of the company’s stock, valued at approximately $1,390,890.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William John Bush sold 20,367 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $3.17, for a total transaction of $64,563.39. Following the completion of the sale, the chief financial officer now directly owns 276,814 shares of the company’s stock, valued at approximately $877,500.38. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 130,418 shares of company stock worth $238,045 and sold 515,950 shares worth $1,188,252. 10.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on STEM shares. BMO Capital Markets decreased their price objective on shares of Stem from $4.00 to $3.25 and set a “market perform” rating on the stock in a research note on Thursday, February 29th. TD Cowen decreased their price objective on shares of Stem from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Susquehanna decreased their price objective on shares of Stem from $5.50 to $4.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $2.50 price objective (down from $5.50) on shares of Stem in a research note on Friday, March 22nd. Finally, Piper Sandler decreased their price target on shares of Stem from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Stem presently has a consensus rating of “Hold” and an average target price of $5.96.

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.