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      Stem Inc. (STEM) stock popup in the after-hours on Tuesday, here is Why? - Stocks Telegraph

      By Asim Kamal

      Published on

      November 17, 2021

      7:30 AM UTC

      Stem Inc. (STEM) stock popup in the after-hours on Tuesday, here is Why? - Stocks Telegraph

      Stem Inc. (STEM) shares declined 5.35% in after-hours on Tuesday, November 16, 2021, and closed the daily trading at $23.35. However, in the regular trading session, it lost 1.91%. STEM shares have risen 154.33% over the last 12 months, and they have moved up 8.01% in the past week. Over the past three months, the stock has gained 8.92%, while over the past six months, it has jumped 30.12%.

      Let’s have a brief look at its recent news.

      STEM Senior Notes Offering

      On November 16, 2021, Stem, Inc announced its intention to offer a $350 million aggregate principal amount of green Convertible Senior Notes due 2028 in a private offering. In connection with the Offering, Stem expects to grant up to an additional $52.5 million aggregate principal amount of the Notes on the same terms and conditions.

      STEM latest financial results

      On November 09, 2021, Stem, Inc. released its financial results for the third quarter, which ended September 30, 2021.

      Q3 2021 financial highlights

      • STEM reported record revenue of $39.8 million in Q3 2021 compared to $9.2 million in Q3 2020.
      • The total cost of revenue was $36.7 million in Q3 2021, compared to $10.9 million in Q3 2020.
      • The gross profit margin (GAAP) was 8% compared to 19% in Q3 2020.
      • Total operating expenses were $22.26 million in Q3 2021 compared to $10.74 million in Q3 2020.
      • It earned a net income of $115.6 million compared to a net loss of $18.8 million in the same quarter last year.
      • Adjusted EBITDA was $7.2 million in Q3 2021 compared to $7.9 million in Q3 2020.
      • As of September 30, 2021, the company had $576 million in cash, cash equivalents and short-term investments, and zero debt

      FY 2021 financial guidance

      For full-year 2021, the revenue of $147 million is expected and Adjusted EBITDA of $25 million is expected.

      A significant milestone for STEM Athena software

      On October 05, 2021, Stem, Inc added two advanced applications to its Athena® smart energy software, enabling its project developer customers to generate more revenue in wholesale energy markets for both fronts of a meter (FTM) and behind the meter (BTM) storage projects.

      STEM and Copec collaboration

      On September 15, 2021Stem, Inc. and Copec, one of the largest energy companies in Central and South America, announced a partnership to develop South America’s first virtual power plant (VPP) as well as the completion of their first smart energy storage system in Chile.

      Conclusion

      Well, senior Note offering was the reason behind its loss in the after-hours on Tuesday. There is no other recent news available. We hope it will perform better on Wednesday.

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