ChargePoint Holdings, Inc. (NYSE:CHPT – Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $3.00 to $2.00. Stifel Nicolaus currently has a hold rating on the stock. ChargePoint traded as low as $1.21 and last traded at $1.22, with a volume of 7103997 shares. The stock had previously closed at $1.25.
A number of other brokerages have also issued reports on CHPT. Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group lowered their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research report on Friday, September 6th. Benchmark restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Thursday, September 5th. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and lowered their price objective for the company from $3.00 to $2.00 in a research report on Thursday, September 5th. Finally, Needham & Company LLC lowered their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.61.
View Our Latest Stock Report on CHPT
Insiders Place Their Bets
Hedge Funds Weigh In On ChargePoint
A number of institutional investors have recently made changes to their positions in CHPT. Point72 Asset Management L.P. acquired a new stake in shares of ChargePoint during the 2nd quarter valued at approximately $13,007,000. Sanctuary Advisors LLC acquired a new stake in ChargePoint in the second quarter worth $138,000. AQR Capital Management LLC acquired a new stake in ChargePoint in the second quarter worth $1,310,000. Susquehanna Fundamental Investments LLC acquired a new stake in ChargePoint in the first quarter worth $258,000. Finally, Vanguard Group Inc. increased its position in ChargePoint by 26.3% in the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after buying an additional 7,645,210 shares during the period. 37.77% of the stock is owned by institutional investors and hedge funds.
ChargePoint Price Performance
The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The company has a 50-day simple moving average of $1.44 and a two-hundred day simple moving average of $1.62. The stock has a market capitalization of $524.37 million, a price-to-earnings ratio of -1.24 and a beta of 1.69.
ChargePoint (NYSE:CHPT – Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The company had revenue of $108.54 million during the quarter, compared to analysts’ expectations of $114.15 million. On average, equities research analysts predict that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current year.
ChargePoint Company Profile
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.
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