Swiss National Bank Raises Position in ChargePoint Holdings, Inc. (NYSE:CHPT)

Swiss National Bank increased its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 806,400 shares of the company’s stock after purchasing an additional 17,600 shares during the period. Swiss National Bank owned approximately 0.18% of ChargePoint worth $863,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of ChargePoint by 131.0% during the 3rd 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 in the last quarter. Callan Family Office LLC acquired a new stake in shares of ChargePoint in the fourth quarter valued at about $45,000. Strategic Investment Advisors MI purchased a new stake in ChargePoint during the fourth quarter worth about $46,000. Jones Financial Companies Lllp grew its position in ChargePoint by 61.1% during the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after buying an additional 17,075 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in ChargePoint by 144.7% in the third quarter. Integrated Wealth Concepts LLC now owns 50,170 shares of the company’s stock valued at $69,000 after buying an additional 29,669 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

Wall Street Analyst Weigh In

CHPT has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. The Goldman Sachs Group decreased their target price on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada dropped their price target on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. Stifel Nicolaus decreased their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. Finally, UBS Group set a $1.50 target price on shares of ChargePoint in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.03.

ChargePoint Price Performance

NYSE:CHPT opened at $0.62 on Friday. ChargePoint Holdings, Inc. has a 12-month low of $0.56 and a 12-month high of $2.44. The firm has a market cap of $273.81 million, a price-to-earnings ratio of -0.84 and a beta of 1.85. The company’s 50-day moving average is $0.78 and its two-hundred day moving average is $1.08. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. Research analysts expect that ChargePoint Holdings, Inc. will post -0.57 EPS for the current 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.