KLP Kapitalforvaltning AS Takes Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

KLP Kapitalforvaltning AS purchased a new position in ChargePoint Holdings, Inc. (NYSE:CHPT) in the 4th quarter, Holdings Channel.com reports. The firm purchased 79,600 shares of the company’s stock, valued at approximately $85,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in ChargePoint by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after buying an additional 9,519 shares in the last quarter. Jeppson Wealth Management LLC boosted its stake in shares of ChargePoint by 32.8% in the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company’s stock valued at $61,000 after purchasing an additional 14,085 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of ChargePoint by 61.1% in the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after purchasing an additional 17,075 shares during the last quarter. Swiss National Bank increased its position in shares of ChargePoint by 2.2% during the 4th quarter. Swiss National Bank now owns 806,400 shares of the company’s stock worth $863,000 after purchasing an additional 17,600 shares in the last quarter. Finally, FMR LLC lifted its holdings in ChargePoint by 23.4% during the 3rd quarter. FMR LLC now owns 150,705 shares of the company’s stock valued at $206,000 after purchasing an additional 28,602 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

Analyst Ratings Changes

CHPT has been the subject of several recent analyst reports. Evercore ISI lowered shares of ChargePoint from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $4.00 to $1.00 in a report on Monday, March 31st. UBS Group set a $1.50 price objective on ChargePoint in a research report on Wednesday, March 5th. The Goldman Sachs Group decreased their target price on ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a report on Thursday. Stifel Nicolaus cut their price target on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1.63.

ChargePoint Trading Down 2.3 %

Shares of NYSE CHPT opened at $0.58 on Friday. The company’s 50 day simple moving average is $0.69 and its 200 day simple moving average is $1.02. 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 Holdings, Inc. has a fifty-two week low of $0.51 and a fifty-two week high of $2.44. The firm has a market capitalization of $267.13 million, a P/E ratio of -0.79 and a beta of 2.05.

ChargePoint (NYSE:CHPT) last posted its quarterly 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 company 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%. On average, analysts predict that ChargePoint Holdings, Inc. will post -0.57 EPS for the current year.

ChargePoint 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.