Short Interest in Stem, Inc. (NYSE:STEM) Rises By 35.3%

Stem, Inc. (NYSE:STEM) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 47,350,000 shares, a growth of 35.3% from the December 15th total of 34,990,000 shares. Based on an average trading volume of 10,800,000 shares, the short-interest ratio is presently 4.4 days. Approximately 31.3% of the shares of the company are short sold.

Stem Trading Down 8.9 %

STEM stock traded down $0.07 during midday trading on Thursday, hitting $0.70. The stock had a trading volume of 13,755,644 shares, compared to its average volume of 31,489,990. Stem has a 52 week low of $0.30 and a 52 week high of $3.58. The stock has a 50-day simple moving average of $0.50 and a 200 day simple moving average of $0.63. The firm has a market capitalization of $113.60 million, a price-to-earnings ratio of -0.13 and a beta of 1.43.

Hedge Funds Weigh In On Stem

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Stem in the third quarter valued at about $25,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Stem in the 2nd quarter valued at approximately $30,000. Creative Planning raised its holdings in shares of Stem by 177.1% in the 3rd quarter. Creative Planning now owns 123,521 shares of the company’s stock worth $43,000 after buying an additional 78,940 shares in the last quarter. Barclays PLC lifted its position in shares of Stem by 213.1% during the 3rd quarter. Barclays PLC now owns 235,336 shares of the company’s stock worth $81,000 after buying an additional 160,165 shares during the period. Finally, SCP Investment LP boosted its stake in Stem by 36.9% in the 3rd quarter. SCP Investment LP now owns 370,888 shares of the company’s stock valued at $129,000 after buying an additional 100,000 shares in the last quarter. 61.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.