ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have received a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $2.46.

A number of brokerages have recently weighed in on CHPT. TD Cowen cut shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $3.00 to $2.00 in a research note on Thursday, September 5th. Stifel Nicolaus dropped their price target on ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. downgraded shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd.

Insider Buying and Selling

In other news, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $1.32, for a total value of $34,700.16. Following the transaction, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at $515,586.72. The trade was a 6.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mansi Khetani sold 23,409 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now owns 849,084 shares of the company’s stock, valued at $1,146,263.40. The trade was a 2.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,803 shares of company stock valued at $135,295. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in shares of ChargePoint by 19.2% during the second quarter. SG Americas Securities LLC now owns 130,247 shares of the company’s stock worth $197,000 after purchasing an additional 21,007 shares in the last quarter. Bank of New York Mellon Corp lifted its position in ChargePoint by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after acquiring an additional 487,262 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in ChargePoint by 17.7% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 598,106 shares of the company’s stock worth $903,000 after acquiring an additional 89,817 shares during the period. Principal Financial Group Inc. grew its position in ChargePoint by 32.9% in the second quarter. Principal Financial Group Inc. now owns 46,042 shares of the company’s stock valued at $70,000 after acquiring an additional 11,389 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of ChargePoint by 39.6% during the second quarter. Commonwealth Equity Services LLC now owns 370,562 shares of the company’s stock valued at $560,000 after purchasing an additional 105,155 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $1.15 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65. The company’s 50-day moving average price is $1.23 and its 200 day moving average price is $1.53. ChargePoint has a 52 week low of $1.05 and a 52 week high of $2.79. The stock has a market cap of $508.69 million, a price-to-earnings ratio of -1.55 and a beta of 1.69.

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.