ChargePoint’s (CHPT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of ChargePoint (NYSE:CHPTFree Report) in a research note issued to investors on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $3.00 price objective on the stock.

A number of other equities analysts have also weighed in on the stock. Oppenheimer reiterated a market perform rating on shares of ChargePoint in a research report on Wednesday, March 6th. R. F. Lafferty cut their price objective on shares of ChargePoint from $4.00 to $3.00 and set a hold rating for the company in a report on Wednesday, March 6th. DA Davidson reissued a buy rating and set a $4.00 target price on shares of ChargePoint in a report on Wednesday, March 6th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $3.00 price target (down from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. Finally, Benchmark reiterated a buy rating and issued a $4.25 price target on shares of ChargePoint in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $4.96.

Get Our Latest Stock Report on CHPT

ChargePoint Stock Down 1.6 %

CHPT stock opened at $1.80 on Thursday. The stock has a fifty day moving average of $1.65 and a 200-day moving average of $1.92. ChargePoint has a fifty-two week low of $1.21 and a fifty-two week high of $10.10. The company has a market capitalization of $762.05 million, a price-to-earnings ratio of -1.53 and a beta of 1.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.25.

Insider Activity at ChargePoint

In other news, CEO Richard Wilmer sold 25,376 shares of ChargePoint stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the sale, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at approximately $4,412,193.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the sale, the chief financial officer now owns 421,500 shares of the company’s stock, valued at $788,205. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Wilmer sold 25,376 shares of ChargePoint stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the transaction, the chief executive officer now directly owns 2,359,462 shares in the company, valued at $4,412,193.94. The disclosure for this sale can be found here. Insiders have sold 54,846 shares of company stock valued at $102,562 over the last three months. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ChargePoint

Institutional investors and hedge funds have recently made changes to their positions in the business. Balentine LLC purchased a new stake in ChargePoint during the fourth quarter valued at about $26,000. QRG Capital Management Inc. purchased a new stake in ChargePoint during the 3rd quarter valued at about $58,000. Hollencrest Capital Management bought a new position in ChargePoint during the 3rd quarter worth approximately $60,000. RWA Wealth Partners LLC purchased a new position in ChargePoint in the 4th quarter worth approximately $31,000. Finally, Sigma Planning Corp purchased a new position in ChargePoint in the 4th quarter worth approximately $33,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Company Profile

(Get Free Report)

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.

See Also

Analyst Recommendations for ChargePoint (NYSE:CHPT)

Receive News & Ratings for ChargePoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChargePoint and related companies with MarketBeat.com's FREE daily email newsletter.