Stem, Inc. (STEM) Narrows Net Loss In Latest Earnings
We recently published 9 Best Battery Stocks to Buy Before They Explode. Stem, Inc. (NYSE:STEM) is one of the best battery stocks to buy before they explode.
Stem, Inc. (NYSE:STEM) reported its fourth quarter earnings on March 4th. The results saw the firm post $156 million in full-year revenue and $137 million in full-year net income. For the quarter, Stem, Inc. (NYSE:STEM) posted $47 million in revenue, which marked a 15% annual drop. However, the firm’s net loss during the quarter was narrower, as it sat at $16 million compared to the year-ago figure of $51 million. Operationally, Stem, Inc. (NYSE:STEM)’s contracted backlog and annual recurring revenue marked modest growth rates of 2% and 1%, respectively. Following the earnings, Barclays discussed the firm’s shares as it kept a $18 share price target and a Hold rating.
Pixabay/Public Domain
Stem, Inc. (NYSE:STEM) made another important announcement in March when it shared that it had secured an agreement to deploy its energy management system in Germany. The projects cover 100 MWh in combined installation and will be deployed as utility-scale battery energy storage systems in the Kölsa and Elsterwerda regions.
Stem, Inc. (NYSE:STEM) is an energy technology company that provides storage devices and software solutions. Its customers include construction companies, utilities, and others.
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