Cibc World Markets Corp Purchases Shares of 37,035 ChargePoint Holdings, Inc. (NYSE:CHPT)

Cibc World Markets Corp acquired a new stake in ChargePoint Holdings, Inc. (NYSE:CHPT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 37,035 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds have also recently modified their holdings of CHPT. State Street Corp lifted its stake in ChargePoint by 1.4% in the third quarter. State Street Corp now owns 10,297,421 shares of the company’s stock worth $14,107,000 after acquiring an additional 142,767 shares during the period. Geode Capital Management LLC raised its holdings in ChargePoint by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after purchasing an additional 399,070 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ChargePoint by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company’s stock worth $3,570,000 after purchasing an additional 85,516 shares during the period. Stifel Financial Corp boosted its stake in shares of ChargePoint by 15.5% during the 3rd quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock valued at $2,816,000 after purchasing an additional 275,653 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of ChargePoint during the third quarter valued at about $2,570,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CHPT has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th. UBS Group set a $1.50 target price on ChargePoint in a research note on Wednesday, March 5th. The Goldman Sachs Group reduced their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ChargePoint presently has an average rating of “Hold” and a consensus target price of $2.03.

ChargePoint Stock Performance

Shares of ChargePoint stock opened at $0.62 on Friday. ChargePoint Holdings, Inc. has a 1 year low of $0.56 and a 1 year high of $2.44. The firm’s 50-day moving average is $0.78 and its 200 day moving average is $1.08. The stock has a market cap of $273.81 million, a price-to-earnings ratio of -0.84 and a beta of 1.85. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24.

ChargePoint (NYSE:CHPT) last issued its earnings results 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). The firm had revenue of $101.89 million during the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. Sell-side analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal 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.