Stem, Inc. (NYSE:STEM) Shares Sold by Rock Point Advisors LLC

Rock Point Advisors LLC decreased its holdings in Stem, Inc. (NYSE:STEM) by 41.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 954,245 shares of the company’s stock after selling 664,344 shares during the quarter. Rock Point Advisors LLC owned 0.59% of Stem worth $332,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. SIR Capital Management L.P. increased its position in shares of Stem by 327.0% during the second quarter. SIR Capital Management L.P. now owns 1,578,575 shares of the company’s stock worth $1,752,000 after purchasing an additional 1,208,875 shares in the last quarter. AQR Capital Management LLC raised its holdings in 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 acquiring an additional 764,401 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Stem by 181.1% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 856,092 shares of the company’s stock worth $950,000 after purchasing an additional 551,492 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Stem by 4,330.5% in the second quarter. Squarepoint Ops LLC now owns 491,251 shares of the company’s stock valued at $545,000 after purchasing an additional 480,163 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Stem during the 2nd quarter worth $405,000. Hedge funds and other institutional investors own 61.63% of the company’s stock.

Stem Stock Performance

Shares of NYSE STEM traded down $0.00 during mid-day trading on Tuesday, hitting $0.40. 485,685 shares of the company were exchanged, compared to its average volume of 5,542,070. The firm has a market cap of $64.76 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. Stem, Inc. has a 1-year low of $0.30 and a 1-year high of $4.30. The stock has a 50 day simple moving average of $0.43 and a 200-day simple moving average of $0.81.

Wall Street Analyst Weigh In

Several analysts have recently commented on STEM shares. UBS Group reduced their price target on shares of Stem from $1.00 to $0.60 and set a “buy” rating on the stock in a research report on Friday, November 8th. TD Cowen cut Stem from a “buy” rating to a “hold” rating and lowered their target price for the company from $4.00 to $1.00 in a report on Wednesday, August 7th. The Goldman Sachs Group cut their price target on shares of Stem from $0.75 to $0.65 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Piper Sandler cut their target price on shares of Stem from $1.50 to $0.30 and set a “neutral” rating on the stock in a research note on Friday. Finally, Susquehanna boosted their price target on shares of Stem from $0.50 to $0.60 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1.67.

Stem 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.