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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned an average rating of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $2.47.

CHPT has been the topic of several research analyst reports. TD Cowen cut ChargePoint from a “buy” rating to a “hold” rating and reduced their target price for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. UBS Group cut their price target on shares of ChargePoint from $1.80 to $1.50 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Needham & Company LLC downgraded ChargePoint from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Stifel Nicolaus lowered their price target on ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th.

ChargePoint Price Performance

CHPT opened at $1.15 on Friday. The stock has a market capitalization of $494.16 million, a P/E ratio of -1.16 and a beta of 1.70. ChargePoint has a 12-month low of $1.05 and a 12-month high of $3.13. The stock has a 50-day moving average price of $1.29 and a 200-day moving average price of $1.59. 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 (NYSE:CHPT) last released its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share 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 company had revenue of $108.54 million during the quarter, compared to analyst estimates of $114.15 million. Equities analysts predict that ChargePoint will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Henrik Gerdes sold 26,288 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was 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 approximately $515,586.72. The trade was a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 849,084 shares in the company, valued at approximately $1,146,263.40. The trade was a 2.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,803 shares of company stock worth $135,295. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently made changes to their positions in the company. CreativeOne Wealth LLC purchased a new position in ChargePoint during the 1st quarter valued at about $30,000. CIBC Asset Management Inc increased its position in shares of ChargePoint by 50.7% in 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. Delap Wealth Advisory LLC acquired a new stake in shares of ChargePoint during the second quarter worth about $31,000. Financial Advocates Investment Management purchased a new stake in shares of ChargePoint in the 3rd quarter valued at $29,000. Finally, Perennial Investment Advisors LLC grew 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 period. 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.