ChargePoint (NYSE:CHPT) Upgraded at B. Riley

ChargePoint (NYSE:CHPT) was upgraded by B. Riley to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

Other research analysts also recently issued research reports about the company. Benchmark reiterated a “buy” rating and issued a $4.25 price objective on shares of ChargePoint in a report on Wednesday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research report on Thursday, June 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price objective (down from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. Finally, TD Cowen lowered their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.96.

ChargePoint Stock Performance

NYSE CHPT opened at $1.41 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13. The company has a market capitalization of $596.94 million, a P/E ratio of -1.19 and a beta of 1.74. The company has a fifty day moving average of $1.62 and a 200-day moving average of $1.88. ChargePoint has a 52-week low of $1.21 and a 52-week high of $9.23.

Insiders Place Their Bets

In other ChargePoint news, CFO Mansi Khetani sold 19,007 shares of ChargePoint stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Henrik Gerdes sold 43,596 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total transaction of $65,394.00. Following the sale, the chief accounting officer now directly owns 438,004 shares of the company’s stock, valued at approximately $657,006. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,099 shares of company stock valued at $137,498. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mutual Advisors LLC lifted its stake in shares of ChargePoint by 9.2% during the 3rd quarter. Mutual Advisors LLC now owns 43,910 shares of the company’s stock valued at $218,000 after buying an additional 3,700 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of ChargePoint by 3.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock valued at $319,000 after buying an additional 4,910 shares in the last quarter. Independent Advisor Alliance lifted its stake in shares of ChargePoint by 34.2% during the 4th quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock valued at $47,000 after buying an additional 5,085 shares in the last quarter. O ROURKE & COMPANY Inc lifted its stake in shares of ChargePoint by 34.2% during the 4th quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock valued at $57,000 after buying an additional 6,207 shares in the last quarter. Finally, Core Wealth Management Inc. lifted its stake in ChargePoint by 46.8% in the 4th quarter. Core Wealth Management Inc. now owns 20,015 shares of the company’s stock worth $47,000 after purchasing an additional 6,380 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

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.