abrdn plc Invests $40,000 in Stem, Inc. (NYSE:STEM)

abrdn plc acquired a new position in shares of Stem, Inc. (NYSE:STEM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,186 shares of the company’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds have also made changes to their positions in STEM. Sequoia Financial Advisors LLC acquired a new position in shares of Stem during the third quarter worth about $55,000. Horizon Family Wealth Inc. acquired a new position in shares of Stem during the third quarter worth about $57,000. Principal Financial Group Inc. grew its position in shares of Stem by 39.3% during the third quarter. Principal Financial Group Inc. now owns 21,067 shares of the company’s stock worth $89,000 after buying an additional 5,941 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Stem by 54.5% during the third quarter. Janney Montgomery Scott LLC now owns 21,025 shares of the company’s stock worth $89,000 after buying an additional 7,415 shares in the last quarter. Finally, Aries Wealth Management grew its position in shares of Stem by 66.7% during the fourth quarter. Aries Wealth Management now owns 25,000 shares of the company’s stock worth $97,000 after buying an additional 10,000 shares in the last quarter. 61.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. BMO Capital Markets lowered their price target on Stem from $4.00 to $3.25 and set a “market perform” rating for the company in a report on Thursday, February 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $2.50 price target (down from $5.50) on shares of Stem in a report on Friday, March 22nd. Susquehanna lowered their price target on Stem from $5.50 to $4.00 and set a “positive” rating for the company in a report on Thursday, February 29th. TD Cowen lowered their price target on Stem from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Piper Sandler lowered their price target on Stem from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.96.

Stem Price Performance

Shares of NYSE STEM opened at $1.85 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.78 and a debt-to-equity ratio of 1.23. Stem, Inc. has a twelve month low of $1.46 and a twelve month high of $7.79. The stock has a 50 day moving average of $2.04 and a two-hundred day moving average of $2.86. The stock has a market cap of $291.09 million, a P/E ratio of -1.44 and a beta of 1.88.

Stem (NYSE:STEM) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). Stem had a negative return on equity of 27.71% and a negative net margin of 30.42%. The company had revenue of $167.42 million for the quarter, compared to analysts’ expectations of $254.23 million. On average, research analysts forecast that Stem, Inc. will post -0.51 earnings per share for the current year.

Insider Transactions at Stem

In other news, CFO William John Bush sold 20,367 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $3.17, for a total transaction of $64,563.39. Following the completion of the sale, the chief financial officer now owns 276,814 shares in the company, valued at $877,500.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO William John Bush sold 20,367 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $3.17, for a total transaction of $64,563.39. Following the completion of the sale, the chief financial officer now owns 276,814 shares in the company, valued at $877,500.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Saul R. Laureles sold 10,959 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $3.17, for a total value of $34,740.03. Following the completion of the transaction, the insider now owns 80,003 shares of the company’s stock, valued at approximately $253,609.51. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 130,418 shares of company stock worth $238,045 and sold 578,097 shares worth $1,291,013. Company insiders own 10.17% of the company’s stock.

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.