ChargePoint (NYSE:CHPT) Rating Increased to Strong-Buy at Capital One Financial

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

A number of other equities analysts have also commented on CHPT. Royal Bank of Canada reduced their target price on shares of ChargePoint from $3.00 to $2.50 and set a sector perform rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their target price on ChargePoint from $1.50 to $1.25 and set a sell rating for the company in a research report on Friday, September 6th. B. Riley raised ChargePoint to a hold rating in a research report on Tuesday, June 25th. Evercore ISI decreased their price objective on ChargePoint from $6.00 to $4.00 and set an outperform rating for the company in a report on Thursday, September 5th. Finally, Wolfe Research started coverage on shares of ChargePoint in a report on Thursday, September 5th. They set a peer perform rating on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $3.39.

ChargePoint Stock Performance

CHPT stock opened at $1.42 on Tuesday. ChargePoint has a 12 month low of $1.21 and a 12 month high of $5.49. The firm’s 50-day moving average is $1.80 and its 200 day moving average is $1.72. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Balentine LLC purchased a new position in shares of ChargePoint in the fourth quarter worth $26,000. Bridgecreek Investment Management LLC purchased a new position in ChargePoint in the 4th quarter worth $33,000. CreativeOne Wealth LLC acquired a new stake in ChargePoint during the 1st quarter worth about $30,000. PDS Planning Inc purchased a new stake in ChargePoint during the 1st quarter valued at about $31,000. Finally, CIBC Asset Management Inc increased its holdings in shares of ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares during the period. 37.77% of the stock is owned by institutional investors and hedge funds.

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.