Piper Sandler Lowers Stem (NYSE:STEM) Price Target to $0.30

Stem (NYSE:STEM) had its price target cut by stock analysts at Piper Sandler from $1.50 to $0.30 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential downside of 23.43% from the stock’s previous close.

Other analysts have also issued research reports about the company. UBS Group decreased their price target on Stem from $1.00 to $0.60 and set a “buy” rating on the stock in a research note on Friday, November 8th. TD Cowen lowered shares of Stem from a “buy” rating to a “hold” rating and lowered their target price for the stock from $4.00 to $1.00 in a report on Wednesday, August 7th. Barclays cut their price target on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating for the company in a report on Friday, October 18th. Evercore ISI decreased their price objective on shares of Stem from $9.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group cut their target price on shares of Stem from $0.75 to $0.65 and set a “neutral” rating for the company in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $1.67.

Stem Stock Up 9.0 %

Shares of STEM opened at $0.39 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average price of $0.43 and a two-hundred day moving average price of $0.82. The stock has a market cap of $63.77 million, a price-to-earnings ratio of -0.08 and a beta of 1.65. Stem has a 12 month low of $0.30 and a 12 month high of $4.30.

Institutional Investors Weigh In On Stem

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SIR Capital Management L.P. increased 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 purchasing an additional 1,208,875 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Stem by 77.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,406,080 shares of the company’s stock valued at $837,000 after buying an additional 1,047,825 shares during the period. AQR Capital Management LLC boosted its stake in Stem by 5,770.4% in the second quarter. AQR Capital Management LLC now owns 777,648 shares of the company’s stock valued at $863,000 after acquiring an additional 764,401 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Stem by 181.1% during the 2nd 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 during the period. Finally, Squarepoint Ops LLC raised its position in shares of Stem by 4,330.5% during the 2nd quarter. Squarepoint Ops LLC now owns 491,251 shares of the company’s stock valued at $545,000 after acquiring an additional 480,163 shares during the last quarter. Institutional investors own 61.63% of the company’s stock.

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.