Stem (NYSE:STEM) Posts Earnings Results, Misses Expectations By $0.25 EPS

Stem (NYSE:STEM) released its quarterly earnings results on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.25), RTT News reports. The company had revenue of $25.50 million for the quarter, compared to analysts’ expectations of $66.67 million. Stem had a negative return on equity of 27.71% and a negative net margin of 30.42%. The business’s quarterly revenue was down 61.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.29) EPS.

Stem Trading Up 3.0 %

Stem stock traded up $0.05 during midday trading on Thursday, reaching $1.91. The stock had a trading volume of 3,053,253 shares, compared to its average volume of 4,607,387. The stock’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $2.86. Stem has a twelve month low of $1.46 and a twelve month high of $7.79. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.78 and a current ratio of 1.88. The stock has a market capitalization of $300.55 million, a PE ratio of -1.49 and a beta of 1.91.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CRO Alan Russo sold 14,390 shares of Stem stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $45,616.30. Following the transaction, the executive now directly owns 158,204 shares of the company’s stock, valued at approximately $501,506.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Alan Russo sold 14,390 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $3.17, for a total value of $45,616.30. Following the transaction, the executive now owns 158,204 shares of the company’s stock, valued at approximately $501,506.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David S. Buzby purchased 33,800 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average cost of $1.81 per share, with a total value of $61,178.00. Following the completion of the transaction, the director now owns 768,448 shares in the company, valued at approximately $1,390,890.88. The disclosure for this purchase can be found here. Over the last three months, insiders bought 130,418 shares of company stock worth $238,045 and sold 578,097 shares worth $1,291,013. 10.17% of the stock is currently owned by insiders.

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.