Cambridge Investment Research Advisors Inc. Sells 29,215 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Cambridge Investment Research Advisors Inc. decreased its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 26.2% during the 1st quarter, HoldingsChannel reports. The firm owned 82,236 shares of the company’s stock after selling 29,215 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in ChargePoint were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Perennial Advisors LLC bought a new stake in ChargePoint during the 4th quarter worth $26,000. 111 Capital bought a new stake in ChargePoint during the 4th quarter worth $26,000. Brevan Howard Capital Management LP bought a new stake in ChargePoint during the 4th quarter worth $27,000. Cibc World Markets Corp bought a new stake in ChargePoint during the 4th quarter worth $40,000. Finally, Jones Financial Companies Lllp grew its position in ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after acquiring an additional 17,075 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. TD Cowen raised ChargePoint to a “hold” rating in a report on Monday, July 7th. The Goldman Sachs Group cut their target price on ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a report on Thursday, April 10th. UBS Group cut their target price on ChargePoint from $0.70 to $0.65 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Thursday, June 5th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $1.00 target price on shares of ChargePoint in a report on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1.39.

ChargePoint Stock Down 2.8%

Shares of NYSE:CHPT opened at $0.62 on Wednesday. The business’s 50-day moving average is $0.71 and its 200-day moving average is $0.75. ChargePoint Holdings, Inc. has a 1 year low of $0.51 and a 1 year high of $2.44. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.82 and a quick ratio of 1.12. The company has a market capitalization of $285.46 million, a price-to-earnings ratio of -1.04 and a beta of 2.23.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). ChargePoint had a negative return on equity of 131.65% and a negative net margin of 65.79%. The firm had revenue of $97.64 million for the quarter, compared to analyst estimates of $100.43 million. During the same period last year, the company posted ($0.11) earnings per share. Equities research analysts predict that ChargePoint Holdings, Inc. will post -0.57 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.