ChargePoint (NYSE:CHPT) Price Target Cut to $1.50

ChargePoint (NYSE:CHPT) had its price objective decreased by equities researchers at UBS Group from $1.80 to $1.50 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 11.11% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. TD Cowen lowered ChargePoint from a “buy” rating to a “hold” rating and dropped their target price for the company from $3.00 to $2.00 in a research report on Thursday, September 5th. Benchmark reissued a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research report on Thursday, September 5th. Wolfe Research assumed coverage on ChargePoint in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Needham & Company LLC lowered their price target on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ChargePoint presently has an average rating of “Hold” and an average price target of $3.34.

ChargePoint Trading Up 2.3 %

NYSE CHPT opened at $1.35 on Tuesday. The firm has a market cap of $571.54 million, a P/E ratio of -1.14 and a beta of 1.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The stock’s 50-day moving average is $1.54 and its 200-day moving average is $1.66. ChargePoint has a one year low of $1.21 and a one year high of $3.65.

ChargePoint (NYSE:CHPT) last announced its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting 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 business had revenue of $108.54 million for the quarter, compared to analyst estimates of $114.15 million. Sell-side analysts anticipate that ChargePoint will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at ChargePoint

In related news, CAO Henrik Gerdes sold 26,288 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Henrik Gerdes sold 26,288 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Wilmer sold 27,252 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $36,790.20. Following the completion of the sale, the chief executive officer now owns 2,304,489 shares of the company’s stock, valued at $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. In the last three months, insiders sold 100,803 shares of company stock worth $135,295. 3.50% of the stock is owned by company insiders.

Institutional Trading of ChargePoint

Institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its position 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 acquiring an additional 5,770 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of ChargePoint during the 1st quarter valued at $30,000. PDS Planning Inc acquired a new position in shares of ChargePoint during the 1st quarter worth $31,000. Delap Wealth Advisory LLC acquired a new position in shares of ChargePoint during the 2nd quarter worth $31,000. Finally, Perennial Investment Advisors LLC raised its holdings in shares of 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 buying an additional 10,400 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors.

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.