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

ChargePoint Holdings, Inc. (NYSE:CHPT) has earned a consensus recommendation of “Hold” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $2.46.

Several research firms recently commented on CHPT. Benchmark reiterated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th. Royal Bank of Canada cut their price target on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. Stifel Nicolaus cut their target price on ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, UBS Group decreased their price target on ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a research note on Tuesday, December 10th.

ChargePoint Stock Performance

Shares of CHPT stock opened at $0.92 on Thursday. The firm has a market capitalization of $406.95 million, a price-to-earnings ratio of -1.24 and a beta of 1.70. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. The business’s 50-day moving average price is $1.12 and its 200-day moving average price is $1.36. ChargePoint has a 12 month low of $0.91 and a 12 month high of $2.44.

Insider Buying and Selling

In other news, CAO Henrik Gerdes sold 28,536 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $32,531.04. Following the completion of the transaction, the chief accounting officer now directly owns 362,060 shares of the company’s stock, valued at $412,748.40. This trade represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $25,123.32. Following the completion of the transaction, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at approximately $1,402,547.70. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,148 shares of company stock valued at $99,349. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CHPT. Financial Advocates Investment Management purchased a new position in shares of ChargePoint during the 3rd quarter valued at $29,000. Strategic Investment Advisors MI purchased a new position in ChargePoint during the fourth quarter worth about $46,000. Point72 Asia Singapore Pte. Ltd. increased its stake in ChargePoint by 131.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock worth $50,000 after acquiring an additional 20,773 shares during the last quarter. Algert Global LLC purchased a new stake in shares of ChargePoint in the 2nd quarter valued at about $58,000. Finally, Jeppson Wealth Management LLC boosted its position in shares of ChargePoint by 28.3% during the 3rd quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock valued at $59,000 after acquiring an additional 9,480 shares during the last quarter. 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.