Stem Shares Slip 9% On Wider Loss In Q2

Shares of clean energy storage services provider Stem Inc. (STEM) are down 9 percent on Thursday's trading as the company posted wider loss in the second quarter, affected by non-cash charges and higher operating expenses.

The company reported net loss of $100.2 million or $1.00 per share, compared to net loss of $18.98 million or $0.48 per share in the same period last year.

Quarterly revenues came in at $19.3 million, up from $4.4 million a year ago.

On average, 2 analysts expected the company to post net loss of $0.11 per share on revenues of $18.73 million in the quarter.

Currently at $24.22, the stock has traded between $9.60 and $51.49 during the past 52 weeks.

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