ChargePoint Holdings, Inc. (NYSE:CHPT) Given Consensus Recommendation of “Hold” by Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $2.47.

CHPT has been the subject of several analyst reports. The Goldman Sachs Group dropped their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. TD Cowen downgraded shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their price target for the company from $3.00 to $2.00 in a research report on Thursday, September 5th. UBS Group lowered their price objective on ChargePoint from $1.80 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Capital One Financial raised ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Finally, Stifel Nicolaus reduced their target price on ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th.

ChargePoint Trading Up 1.3 %

Shares of NYSE:CHPT opened at $1.17 on Friday. ChargePoint has a 12-month low of $1.05 and a 12-month high of $3.13. The business has a 50 day moving average of $1.28 and a 200-day moving average of $1.59. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. The stock has a market cap of $502.79 million, a PE ratio of -1.18 and a beta of 1.70.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). The business had revenue of $108.54 million during the quarter, compared to the consensus estimate of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. As a group, equities research analysts forecast that ChargePoint will post -0.56 earnings per share for the current year.

Insider Activity at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 23,409 shares of the company’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 $31,602.15. Following the completion of the transaction, the chief financial officer now owns 849,084 shares of the company’s stock, valued at $1,146,263.40. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. The trade was a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,803 shares of company stock valued at $135,295 in the last quarter. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after acquiring an additional 5,770 shares during the last quarter. Financial Advocates Investment Management acquired a new position in shares of ChargePoint during the third quarter worth $29,000. CreativeOne Wealth LLC bought a new stake in shares of ChargePoint in the first quarter worth $30,000. Delap Wealth Advisory LLC acquired a new stake in ChargePoint in the second quarter valued at $31,000. Finally, Perennial Investment Advisors LLC raised its position in ChargePoint by 74.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after purchasing an additional 10,400 shares during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

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.