Stem, Inc. (NYSE:STEM) Sees Large Decline in Short Interest

Stem, Inc. (NYSE:STEM) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totalling 40,640,000 shares, a drop of 14.2% from the December 31st total of 47,350,000 shares. Based on an average daily trading volume, of 12,380,000 shares, the days-to-cover ratio is presently 3.3 days. Currently, 26.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on STEM shares. The Goldman Sachs Group cut their price objective on shares of Stem from $0.75 to $0.65 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Piper Sandler reduced their price objective on shares of Stem from $1.50 to $0.30 and set a “neutral” rating for the company in a research note on Friday, November 22nd. UBS Group dropped their price objective on Stem from $1.00 to $0.60 and set a “buy” rating on the stock in a research note on Friday, November 8th. Barclays cut their target price on shares of Stem from $4.00 to $1.00 and set an “equal weight” rating for the company in a research note on Friday, October 18th. Finally, Susquehanna upped their price objective on shares of Stem from $0.50 to $0.60 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $1.38.

Stem Stock Up 4.6 %

NYSE:STEM traded up $0.03 during trading hours on Friday, hitting $0.60. 6,449,686 shares of the company were exchanged, compared to its average volume of 20,254,152. Stem has a 52-week low of $0.30 and a 52-week high of $3.58. The company’s 50 day moving average price is $0.57 and its 200-day moving average price is $0.58.

Stem (NYSE:STEM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The firm had revenue of $29.29 million during the quarter, compared to analysts’ expectations of $39.99 million. Stem had a negative net margin of 328.11% and a negative return on equity of 275.79%. During the same quarter in the previous year, the business posted ($0.17) EPS. Analysts anticipate that Stem will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STEM. Geode Capital Management LLC grew its position in shares of Stem by 4.8% in the third quarter. Geode Capital Management LLC now owns 3,604,073 shares of the company’s stock valued at $1,255,000 after purchasing an additional 166,002 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Stem by 77.1% in the 3rd 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 purchasing an additional 1,047,825 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Stem by 5,770.4% in the 2nd quarter. AQR Capital Management LLC now owns 777,648 shares of the company’s stock valued at $863,000 after buying an additional 764,401 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Stem by 4,330.5% in the 2nd quarter. Squarepoint Ops LLC now owns 491,251 shares of the company’s stock worth $545,000 after acquiring an additional 480,163 shares during the period. Finally, SCP Investment LP grew its holdings in Stem by 36.9% in the 3rd quarter. SCP Investment LP now owns 370,888 shares of the company’s stock worth $129,000 after buying an additional 100,000 shares in the last quarter. 61.63% of the stock is owned by hedge funds and other institutional investors.

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.