ChargePoint (NYSE:CHPT) Price Target Cut to $1.00 by Analysts at Stifel Nicolaus

ChargePoint (NYSE:CHPT) had its price target decreased by Stifel Nicolaus from $2.00 to $1.00 in a report published on Monday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

CHPT has been the topic of several other research reports. UBS Group cut their target price on ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Royal Bank of Canada cut their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 5th. The Goldman Sachs Group decreased their price target on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Thursday, February 20th. Finally, Benchmark restated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.03.

ChargePoint Trading Down 5.5 %

Shares of ChargePoint stock opened at $0.69 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. ChargePoint has a 12-month low of $0.56 and a 12-month high of $2.44. The company has a market capitalization of $306.10 million, a price-to-earnings ratio of -0.94 and a beta of 1.85. The firm’s 50-day moving average price is $0.90 and its two-hundred day moving average price is $1.17.

ChargePoint (NYSE:CHPT) last released its earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $101.89 million during the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. On average, analysts forecast that ChargePoint will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at ChargePoint

In related news, CAO Henrik Gerdes sold 28,536 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $32,531.04. Following the sale, the chief accounting officer now owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. This represents a 7.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jagdeep Ca Singh sold 36,574 shares of ChargePoint stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $41,694.36. Following the sale, the insider now directly owns 1,161,430 shares of the company’s stock, valued at $1,324,030.20. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,148 shares of company stock valued at $99,349 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of ChargePoint

A number of hedge funds have recently made changes to their positions in CHPT. Jeppson Wealth Management LLC lifted its position in ChargePoint by 28.3% in the 3rd quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock worth $59,000 after buying an additional 9,480 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ChargePoint by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after purchasing an additional 9,519 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock valued at $48,000 after purchasing an additional 17,075 shares during the last quarter. Swiss National Bank raised its position in ChargePoint by 2.2% in the 4th quarter. Swiss National Bank now owns 806,400 shares of the company’s stock worth $863,000 after purchasing an additional 17,600 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ChargePoint by 131.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock valued at $50,000 after buying an additional 20,773 shares during the last quarter. 37.77% of the stock is owned by institutional investors.

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.