ChargePoint (NYSE:CHPT) Downgraded to In-Line Rating by Evercore ISI

Evercore ISI lowered shares of ChargePoint (NYSE:CHPT) from an outperform rating to an in-line rating in a report issued on Monday, MarketBeat.com reports. They currently have $1.00 target price on the stock, down from their prior target price of $4.00.

A number of other research firms have also issued reports on CHPT. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Royal Bank of Canada cut their target price on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research note on Thursday, December 5th. Stifel Nicolaus lowered their price target 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. UBS Group set a $1.50 price objective on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their target price on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.66.

ChargePoint Trading Down 1.4 %

Shares of CHPT stock opened at $0.61 on Monday. ChargePoint has a fifty-two week low of $0.56 and a fifty-two week 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’s fifty day moving average is $0.77 and its two-hundred day moving average is $1.07. The firm has a market capitalization of $269.83 million, a P/E ratio of -0.82 and a beta of 1.85.

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

Hedge Funds Weigh In On ChargePoint

A number of hedge funds have recently made changes to their positions in the stock. Perennial Advisors LLC acquired a new position in ChargePoint during the fourth quarter worth $26,000. 111 Capital acquired a new position in ChargePoint during the 4th quarter worth about $26,000. Brevan Howard Capital Management LP acquired a new position in ChargePoint during the 4th quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in ChargePoint by 131.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock valued at $50,000 after acquiring an additional 20,773 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in ChargePoint during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

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.