Rhumbline Advisers Grows Stake in ChargePoint Holdings, Inc. (NYSE:CHPT)

Rhumbline Advisers raised its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 28.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 521,677 shares of the company’s stock after acquiring an additional 116,037 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of ChargePoint worth $788,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bridgecreek Investment Management LLC purchased a new stake in shares of ChargePoint during the 4th quarter valued at approximately $33,000. CreativeOne Wealth LLC purchased a new stake in shares of ChargePoint during the 1st quarter valued at approximately $30,000. PDS Planning Inc purchased a new stake in shares of ChargePoint during the 1st quarter valued at approximately $31,000. CIBC Asset Management Inc lifted its stake in shares of ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after buying an additional 5,770 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of ChargePoint during the 4th quarter valued at approximately $42,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Needham & Company LLC decreased their target price on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Wolfe Research assumed coverage on shares of ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. The Goldman Sachs Group decreased their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a report on Friday, September 6th. Finally, Evercore ISI decreased their target price on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ChargePoint presently has an average rating of “Hold” and a consensus target price of $3.39.

ChargePoint Price Performance

CHPT stock opened at $1.35 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. ChargePoint Holdings, Inc. has a 52 week low of $1.21 and a 52 week high of $5.23. The firm’s fifty day moving average is $1.78 and its 200 day moving average is $1.71. The firm has a market cap of $571.54 million, a P/E ratio of -1.14 and a beta of 1.70.

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.