Levin Capital Strategies L.P. Sells 828,792 Shares of Stem, Inc. (NYSE:STEM)

Levin Capital Strategies L.P. trimmed its position in shares of Stem, Inc. (NYSE:STEM) by 86.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,020 shares of the company’s stock after selling 828,792 shares during the period. Levin Capital Strategies L.P. owned about 0.08% of Stem worth $497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrature Capital Ltd raised its stake in Stem by 289.5% in the third quarter. Quadrature Capital Ltd now owns 51,895 shares of the company’s stock worth $220,000 after buying an additional 38,570 shares in the last quarter. Lido Advisors LLC bought a new position in Stem in the third quarter worth about $4,561,000. DNB Asset Management AS grew its holdings in Stem by 63.7% in the fourth quarter. DNB Asset Management AS now owns 126,568 shares of the company’s stock worth $491,000 after purchasing an additional 49,256 shares during the period. Deutsche Bank AG grew its holdings in Stem by 3.8% in the third quarter. Deutsche Bank AG now owns 605,722 shares of the company’s stock worth $2,568,000 after purchasing an additional 22,222 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Stem in the fourth quarter worth about $209,000. 61.63% of the stock is owned by institutional investors.

Stem Trading Up 2.2 %

Shares of STEM stock traded up $0.04 on Thursday, hitting $1.89. 1,692,309 shares of the stock traded hands, compared to its average volume of 4,588,283. Stem, Inc. has a 52 week low of $1.46 and a 52 week high of $7.79. The firm has a 50 day simple moving average of $2.04 and a two-hundred day simple moving average of $2.86. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 1.23.

Stem (NYSE:STEM) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The firm had revenue of $167.42 million for the quarter, compared to the consensus estimate of $254.23 million. Stem had a negative net margin of 30.42% and a negative return on equity of 27.71%. As a group, equities research analysts anticipate that Stem, Inc. will post -0.51 EPS for the current year.

Insider Activity at Stem

In related news, CRO Alan Russo sold 14,390 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $3.17, for a total transaction of $45,616.30. Following the completion of the transaction, the executive now directly owns 158,204 shares of the company’s stock, valued at $501,506.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stem news, CRO Alan Russo sold 14,390 shares of Stem stock in a transaction on Friday, February 16th. The shares were sold at an average price of $3.17, for a total value of $45,616.30. Following the completion of the transaction, the executive now directly owns 158,204 shares of the company’s stock, valued at approximately $501,506.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rahul Shukla sold 19,899 shares of Stem stock in a transaction on Friday, March 8th. The stock was sold at an average price of $2.19, for a total transaction of $43,578.81. Following the completion of the transaction, the chief accounting officer now directly owns 21,332 shares of the company’s stock, valued at $46,717.08. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 130,418 shares of company stock valued at $238,045 and sold 578,097 shares valued at $1,291,013. 10.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.