Stem (NYSE:STEM) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Stem (NYSE:STEM) announced its earnings results on Tuesday. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04, Zacks reports. Stem had a negative return on equity of 275.79% and a negative net margin of 328.11%.

Stem Stock Performance

NYSE STEM traded up $0.06 during trading on Tuesday, reaching $0.46. 10,741,986 shares of the company traded hands, compared to its average volume of 13,711,569. Stem has a 1-year low of $0.30 and a 1-year high of $2.44. The company has a market cap of $75.03 million, a price-to-earnings ratio of -0.09 and a beta of 1.43. The stock’s 50 day moving average price is $0.64 and its two-hundred day moving average price is $0.51.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STEM shares. Piper Sandler reduced 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, November 22nd. UBS Group reduced their price target on shares of Stem from $1.00 to $0.60 and set a “buy” rating for the company in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1.38.

About Stem

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.