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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned a consensus rating of “Hold” from the twenty ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $2.65.

A number of equities analysts have issued reports on CHPT shares. Needham & Company LLC cut their price objective 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. Wolfe Research started coverage on shares of ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Evercore ISI cut their price objective 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. Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group cut their price objective 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.

ChargePoint Stock Performance

Shares of CHPT stock opened at $1.28 on Tuesday. The firm has a market capitalization of $550.26 million, a PE ratio of -1.29 and a beta of 1.69. The firm has a fifty day simple moving average of $1.46 and a two-hundred day simple moving average of $1.63. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. ChargePoint has a 12 month low of $1.21 and a 12 month high of $3.54.

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

Insider Buying and Selling at ChargePoint

In other news, CEO Richard Wilmer sold 27,252 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 transaction of $36,790.20. Following the sale, the chief executive officer now directly owns 2,304,489 shares in the company, valued at $3,111,060.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Richard Wilmer sold 27,252 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 transaction of $36,790.20. Following the sale, the chief executive officer now directly owns 2,304,489 shares in the company, valued at $3,111,060.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Henrik Gerdes sold 26,288 shares of the company’s 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 owns 390,596 shares in the company, valued at approximately $515,586.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,803 shares of company stock valued at $135,295 over the last three months. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CreativeOne Wealth LLC bought a new position in shares of ChargePoint in the first quarter worth approximately $30,000. PDS Planning Inc bought a new position in shares of ChargePoint in the first quarter worth approximately $31,000. CIBC Asset Management Inc increased its position in shares of ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after purchasing an additional 5,770 shares during the last quarter. Delap Wealth Advisory LLC bought a new position in shares of ChargePoint in the second quarter worth approximately $31,000. Finally, Financial Advocates Investment Management bought a new position in shares of ChargePoint in the third quarter worth approximately $29,000. 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.