ChargePoint (NYSE:CHPT) Upgraded by Capital One Financial to Strong-Buy

Capital One Financial upgraded shares of ChargePoint (NYSE:CHPT) to a strong-buy rating in a research report released on Tuesday morning, Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada reduced their target price on ChargePoint from $3.00 to $2.50 and set a sector perform rating on the stock in a research report on Thursday, September 5th. Benchmark reissued a buy rating and issued a $3.00 target price on shares of ChargePoint in a research report on Thursday, September 5th. The Goldman Sachs Group lowered their target price on shares of ChargePoint from $1.50 to $1.25 and set a sell rating for the company in a report on Friday, September 6th. TD Cowen downgraded shares of ChargePoint from a buy rating to a hold rating and cut their price target for the stock from $3.00 to $2.00 in a research note on Thursday, September 5th. Finally, Wolfe Research assumed coverage on shares of ChargePoint in a research note on Thursday, September 5th. They set a peer perform rating for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $3.39.

ChargePoint Trading Down 4.0 %

Shares of ChargePoint stock opened at $1.45 on Tuesday. The firm has a market cap of $625.79 million, a PE ratio of -1.23 and a beta of 1.70. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. ChargePoint has a fifty-two week low of $1.21 and a fifty-two week high of $5.49. The business’s fifty day moving average is $1.80 and its two-hundred day moving average is $1.72.

Insiders Place Their Bets

In other news, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the transaction, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at $563,490.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the sale, the chief executive officer now owns 2,331,740 shares in the company, valued at approximately $3,264,436. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mansi Khetani sold 19,007 shares of ChargePoint stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the sale, the chief financial officer now owns 402,493 shares in the company, valued at $563,490.20. The disclosure for this sale can be found here. Insiders sold a total of 51,503 shares of company stock worth $72,104 in the last 90 days. 3.50% of the stock is owned by company insiders.

Institutional Trading of ChargePoint

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in ChargePoint by 26.3% during the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after acquiring an additional 7,645,210 shares during the last quarter. Point72 Asset Management L.P. bought a new position in ChargePoint during the second quarter worth $13,007,000. Norges Bank bought a new stake in shares of ChargePoint during the 4th quarter valued at about $9,733,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of ChargePoint by 62.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock valued at $2,452,000 after purchasing an additional 621,536 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in ChargePoint by 60.1% in the second quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after buying an additional 487,262 shares during the period. Institutional investors and hedge funds 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.