Stem (NYSE:STEM) Price Target Cut to $0.30 by Analysts at Piper Sandler

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

Several other research analysts have also weighed in on the company. UBS Group reduced their target price on Stem from $1.00 to $0.60 and set a “buy” rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group decreased their price objective on Stem from $0.75 to $0.65 and set a “neutral” rating for the company in a research report on Friday, November 1st. TD Cowen downgraded shares of Stem from a “buy” rating to a “hold” rating and dropped their target price for the stock from $4.00 to $1.00 in a report on Wednesday, August 7th. Barclays lowered their price objective on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating for the company in a research report on Friday, October 18th. Finally, Susquehanna boosted their price objective on shares of Stem from $0.50 to $0.60 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Stem currently has a consensus rating of “Hold” and an average price target of $1.67.

Stem Trading Up 9.0 %

Shares of NYSE STEM opened at $0.39 on Friday. Stem has a twelve month low of $0.30 and a twelve month high of $4.30. The stock has a market cap of $63.77 million, a price-to-earnings ratio of -0.08 and a beta of 1.65. 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’s fifty day moving average is $0.43 and its 200-day moving average is $0.82.

Hedge Funds Weigh In On Stem

A number of large investors have recently modified their holdings of STEM. Vanguard Personalized Indexing Management LLC bought a new stake in Stem during the second quarter worth about $30,000. Nisa Investment Advisors LLC increased its position in shares of Stem by 2,416.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 28,507 shares of the company’s stock worth $32,000 after purchasing an additional 27,374 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Stem by 73.9% during the 2nd quarter. SG Americas Securities LLC now owns 33,666 shares of the company’s stock worth $37,000 after purchasing an additional 14,307 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Stem in the 3rd quarter valued at approximately $25,000. Finally, Cetera Advisors LLC bought a new position in shares of Stem in the first quarter valued at $179,000. 61.63% of the stock is currently owned by institutional investors and hedge funds.

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.