ChargePoint (NYSE:CHPT – Get Free Report) had its price target lowered by stock analysts at UBS Group from $1.80 to $1.50 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 13.63% from the stock’s previous close.
A number of other equities analysts also recently issued reports on CHPT. Wolfe Research assumed coverage on shares of ChargePoint in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. B. Riley raised ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Capital One Financial raised ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research note on Thursday, September 5th. Finally, Royal Bank of Canada lowered their price objective on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and an average price target of $3.34.
View Our Latest Research Report on CHPT
ChargePoint Stock Up 0.0 %
ChargePoint (NYSE:CHPT – Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The company had revenue of $108.54 million during the quarter, compared to analysts’ expectations of $114.15 million. As a group, equities analysts forecast that ChargePoint will post -0.56 EPS for the current year.
Insider Activity at ChargePoint
In other news, CFO Mansi Khetani sold 23,409 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $31,602.15. Following the transaction, the chief financial officer now directly owns 849,084 shares in the company, valued at $1,146,263.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Mansi Khetani sold 23,409 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the transaction, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Wilmer sold 27,252 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $36,790.20. Following the completion of the transaction, the chief executive officer now owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,515 shares of company stock worth $100,595. 3.50% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in ChargePoint by 8.8% during the 3rd quarter. Creative Planning now owns 205,008 shares of the company’s stock worth $281,000 after acquiring an additional 16,645 shares in the last quarter. Inspire Investing LLC purchased a new stake in ChargePoint during the 3rd quarter worth $412,000. Sanctuary Advisors LLC purchased a new position in ChargePoint in the 2nd quarter valued at about $138,000. Point72 Asset Management L.P. acquired a new position in shares of ChargePoint in the second quarter worth about $13,007,000. Finally, Algert Global LLC acquired a new stake in ChargePoint during the 2nd quarter valued at approximately $58,000. 37.77% of the stock is owned by hedge funds and other institutional investors.
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.
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