ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $2.41 Average PT from Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $2.41.

CHPT has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research note on Wednesday, November 20th. UBS Group cut their price objective on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Royal Bank of Canada cut 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 note on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Wednesday. Finally, The Goldman Sachs Group cut their price objective on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a research note on Thursday, February 20th.

ChargePoint Trading Up 9.5 %

Shares of ChargePoint stock opened at $0.72 on Monday. 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 has a 12-month low of $0.56 and a 12-month high of $2.44. The firm has a market capitalization of $319.81 million, a price-to-earnings ratio of -0.98 and a beta of 1.70. The firm’s 50 day simple moving average is $0.93 and its two-hundred day simple moving average is $1.20.

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

Insider Buying and Selling

In related news, CAO Henrik Gerdes sold 28,536 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $32,531.04. Following the sale, the chief accounting officer now directly owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. This represents a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mansi Khetani sold 22,038 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the sale, the chief financial officer now directly owns 1,230,305 shares in the company, valued at $1,402,547.70. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,148 shares of company stock valued at $99,349. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in ChargePoint by 1.4% during the third quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after purchasing an additional 142,767 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ChargePoint by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 9,276,632 shares of the company’s stock valued at $9,929,000 after purchasing an additional 204,464 shares in the last quarter. Toronto Dominion Bank purchased a new position in ChargePoint during the fourth quarter valued at $8,746,000. Invesco Ltd. lifted its holdings in ChargePoint by 13.1% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in ChargePoint by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company’s stock valued at $3,570,000 after purchasing an additional 85,516 shares in the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

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.