ChargePoint Holdings, Inc. (NYSE:CHPT) Given Consensus Rating of “Hold” by Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $2.03.

Several equities analysts recently issued reports on CHPT shares. UBS Group set a $1.50 price target on ChargePoint in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Thursday, February 20th. Royal Bank of Canada lowered their price objective on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 5th. Finally, Stifel Nicolaus cut their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Monday, March 10th.

ChargePoint Stock Performance

Shares of CHPT opened at $0.66 on Friday. The company’s 50 day simple moving average is $0.79 and its 200-day simple moving average is $1.09. The firm has a market cap of $293.27 million, a PE ratio of -0.90 and a beta of 1.85. ChargePoint has a 12-month low of $0.56 and a 12-month high of $2.44. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The business had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. As a group, equities analysts predict that ChargePoint will post -0.57 EPS for the current year.

Institutional Trading of ChargePoint

A number of institutional investors have recently added to or reduced their stakes in CHPT. Toronto Dominion Bank purchased a new position in ChargePoint in the fourth quarter valued at about $8,746,000. Millennium Management LLC raised its holdings in ChargePoint by 13,605.0% during the fourth quarter. Millennium Management LLC now owns 2,857,349 shares of the company’s stock worth $3,057,000 after purchasing an additional 2,836,500 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in ChargePoint during the third quarter worth $2,570,000. Invesco Ltd. grew its holdings in ChargePoint by 13.1% in the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company’s stock valued at $5,382,000 after purchasing an additional 583,761 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of ChargePoint by 4.6% in the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock valued at $12,432,000 after buying an additional 399,070 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

About ChargePoint

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.