What To Know About B of A Securities's Downgrade of Stem

B of A Securities downgraded its rating of Stem STEM to Underperform with a price target of $5.00, changing its price target from $9.00 to $5.00.

Shares of Stem are trading down 8.71% over the last 24 hours, at $5.39 per share.

A move to $5.00 would account for a 7.32% decline from the current share price.

About Stem

Stem is a is provider of energy storage systems. The company bundles third-party hardware with its proprietary Athena software to provide customers a turnkey solution. Stem sells its solutions to commercial and industrial customers as well as independent power producers and renewable developers. Its solutions help customers maximize renewable energy generation and help build a cleaner and more resilient grid. In 2022, the company acquired AlsoEnergy, a provider of solar asset management software.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.