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

Key Points

• Stem, Inc. experienced a significant decline in short interest of 19.6% in August, reducing the total to 1,190,000 shares, which represents approximately 15.3% of the company's shares sold short.
• The company reported an EPS of (3.73) for the last quarter, missing consensus estimates, but it surpassed revenue expectations with $38.40 million compared to the estimated $32.18 million.
• Analysts maintain an average rating of "Hold" for Stem's stock, with a price target ranging from $10.86 to $16.00 according to recent reports from UBS Group and Barclays.

Stem, Inc. (NYSE:STEM - Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 1,190,000 shares, a decline of 19.6% from the August 15th total of 1,480,000 shares. Approximately 15.3% of the company's shares are sold short. Based on an average daily trading volume, of 518,000 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily trading volume, of 518,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 15.3% of the company's shares are sold short.

Stem Stock Performance

Shares of NYSE:STEM traded down $0.39 during trading on Thursday, hitting $17.21. The company's stock had a trading volume of 286,743 shares, compared to its average volume of 186,582. The business has a 50 day moving average price of $14.01 and a two-hundred day moving average price of $10.55. Stem has a fifty-two week low of $5.81 and a fifty-two week high of $33.60.

Stem (NYSE:STEM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($3.73) EPS for the quarter, missing the consensus estimate of ($3.00) by ($0.73). The business had revenue of $38.40 million for the quarter, compared to analyst estimates of $32.18 million. Stem has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Stem will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stem

Institutional investors and hedge funds have recently modified their holdings of the company. Cerity Partners LLC acquired a new position in shares of Stem during the first quarter worth $29,000. CWM LLC grew its stake in shares of Stem by 317.7% during the first quarter. CWM LLC now owns 89,913 shares of the company's stock worth $31,000 after purchasing an additional 68,386 shares in the last quarter. Electron Capital Partners LLC grew its stake in shares of Stem by 24.7% during the first quarter. Electron Capital Partners LLC now owns 163,390 shares of the company's stock worth $57,000 after purchasing an additional 32,313 shares in the last quarter. Nomura Holdings Inc. grew its stake in shares of Stem by 24.1% during the first quarter. Nomura Holdings Inc. now owns 228,814 shares of the company's stock worth $80,000 after purchasing an additional 44,433 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Stem during the second quarter worth $97,000. Institutional investors and hedge funds own 61.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STEM shares. UBS Group lifted their price target on shares of Stem from $8.60 to $16.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Barclays set a $13.00 price target on shares of Stem and gave the company an "equal weight" rating in a research report on Monday, August 11th. Seven equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $10.86.

Stem Company 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.

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