Levin Capital Strategies L.P. Boosts Holdings in Stem, Inc. (NYSE:STEM)

Levin Capital Strategies L.P. raised its holdings in Stem, Inc. (NYSE:STEM) by 69.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 660,000 shares of the company’s stock after purchasing an additional 270,000 shares during the period. Levin Capital Strategies L.P. owned 0.41% of Stem worth $733,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. New York State Common Retirement Fund raised its stake in Stem by 6.9% during the fourth quarter. New York State Common Retirement Fund now owns 59,491 shares of the company’s stock worth $231,000 after purchasing an additional 3,855 shares during the period. Victory Capital Management Inc. increased its stake in Stem by 25.4% during the fourth quarter. Victory Capital Management Inc. now owns 19,536 shares of the company’s stock worth $76,000 after acquiring an additional 3,955 shares during the last quarter. Rock Point Advisors LLC lifted its stake in shares of Stem by 104.7% in the 4th quarter. Rock Point Advisors LLC now owns 1,407,525 shares of the company’s stock valued at $5,461,000 after purchasing an additional 720,080 shares in the last quarter. Nicola Wealth Management LTD. increased its position in Stem by 9.2% during the 4th quarter. Nicola Wealth Management LTD. now owns 535,000 shares of the company’s stock worth $2,076,000 after purchasing an additional 45,000 shares in the last quarter. Finally, BNP Paribas Asset Management Holding S.A. increased its position in Stem by 4.7% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 6,637,625 shares of the company’s stock worth $25,754,000 after purchasing an additional 296,291 shares in the last quarter. 61.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Stem from $1.40 to $0.75 and set a “neutral” rating for the company in a research report on Thursday, August 8th. TD Cowen lowered Stem from a “buy” rating to a “hold” rating and cut their price objective for the company from $4.00 to $1.00 in a research report on Wednesday, August 7th. UBS Group decreased their target price on Stem from $2.50 to $1.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their target price on Stem from $9.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Susquehanna cut Stem from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $2.00 to $0.50 in a report on Friday, August 9th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.71.

Stem Stock Performance

Shares of STEM opened at $0.41 on Tuesday. Stem, Inc. has a 52-week low of $0.41 and a 52-week high of $5.15. The company has a quick ratio of 1.51, a current ratio of 1.66 and a debt-to-equity ratio of 1.41. The firm has a market cap of $66.63 million, a price-to-earnings ratio of -0.28 and a beta of 1.71. The business’s 50 day moving average is $0.91 and its two-hundred day moving average is $1.39.

Stem (NYSE:STEM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. Stem had a negative net margin of 213.33% and a negative return on equity of 63.98%. The company had revenue of $34.00 million during the quarter, compared to analyst estimates of $64.06 million. During the same period last year, the business earned ($0.56) EPS. The firm’s revenue for the quarter was down 63.4% compared to the same quarter last year. Analysts forecast that Stem, Inc. will post -0.66 EPS for the current fiscal year.

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.