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

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.03.

CHPT has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Stifel Nicolaus decreased their price target on ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. UBS Group set a $1.50 price objective on ChargePoint in a research report on Wednesday, March 5th. Royal Bank of Canada decreased 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 report on Thursday, December 5th. Finally, The Goldman Sachs Group lowered their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research report on Thursday, February 20th.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of ChargePoint by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock worth $243,000 after buying an additional 9,519 shares during the last quarter. Jeppson Wealth Management LLC raised its stake in ChargePoint by 32.8% during the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company’s stock worth $61,000 after acquiring an additional 14,085 shares in the last quarter. Jones Financial Companies Lllp lifted its position in ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock valued at $48,000 after acquiring an additional 17,075 shares during the last quarter. Swiss National Bank boosted its stake in ChargePoint by 2.2% in the fourth quarter. Swiss National Bank now owns 806,400 shares of the company’s stock valued at $863,000 after acquiring an additional 17,600 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings 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 worth $50,000 after purchasing an additional 20,773 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Stock Down 0.9 %

Shares of CHPT opened at $0.66 on Friday. The stock has a 50 day moving average price of $0.79 and a 200 day moving average price of $1.09. ChargePoint has a one year low of $0.56 and a one year high of $2.44. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. The stock has a market capitalization of $293.27 million, a price-to-earnings ratio of -0.90 and a beta of 1.85.

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

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.