Stephenson, who signed a three-year, $27 million deal with the Hornets last offseason, shot 17.3 percent from 3-point range this season. That mark was the worst in NBA history among players who have attempted at least 100 3-pointers, according to basketball-reference.com.
"That is terrible," Stephenson said of his shooting Thursday as the team addressed the media for the final time this season.
Stephenson said he lost confidence in his jump shot early in the season and never regained it.
"I just wanted to make the shot so bad and when it doesn't go in you just lose your confidence," said Stephenson, who went from starter to out of coach Steve Clifford's rotation. "That plays a major part when you don't have confidence in your shot. This summer I am going to find my confidence and come in a better player."
With the addition of Stephenson -- a gifted player with the Pacers -- to a roster that already featured Al Jefferson and Kemba Walker, Charlotte was expected to contend for the playoffs. However, the Hornets (33-49) finished a disappointing five games out of the playoffs, a year after making an unexpected trip to the postseason.
Poor shooting played a huge part in Charlotte's underwhelming season, the team finished last in the league in 3-point shooting (31.8 percent) and second-to-last in overall field goal percentage (42 percent).
"I have a bad taste in my mouth, the Charlotte Hornets have a bad taste in their mouths -- and I can't walk away from that," said Jefferson.
While Stephenson admitted the Hornets aren't close to competing for a title, he estimated "to take a step to be a playoff team, I don't believe we need a ton" of help.
That may be true especially if Jefferson, who can opt out of his contract this offseason follows through on his intention of staying with the Hornets.
"Unless something dramatic changes, I don't see myself opting out," Jefferson said.
Information from The Associated Press was used in this report.