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

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned an average recommendation of “Hold” from the twenty brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $3.39.

Several analysts have weighed in on CHPT shares. Royal Bank of Canada lowered their price objective on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. lowered shares of ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. B. Riley raised shares of ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Wolfe Research began coverage on shares of ChargePoint in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group cut their target price on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th.

ChargePoint Stock Down 4.4 %

CHPT stock opened at $1.31 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. ChargePoint has a 1-year low of $1.21 and a 1-year high of $4.62. The stock has a market cap of $565.37 million, a price-to-earnings ratio of -1.32 and a beta of 1.69. The company’s 50 day moving average is $1.57 and its 200 day moving average is $1.67.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. The company had revenue of $108.54 million during the quarter, compared to the consensus estimate of $114.15 million. Sell-side analysts predict that ChargePoint will post -0.56 EPS for the current fiscal year.

Insider Transactions at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 23,409 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $31,602.15. Following the completion of the transaction, the chief financial officer now owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Richard Wilmer sold 27,252 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the sale, the chief executive officer now directly owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the completion of the transaction, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at $1,146,263.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,515 shares of company stock valued at $100,595 in the last three months. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently made changes to their positions in CHPT. CreativeOne Wealth LLC purchased a new position in ChargePoint in the 1st quarter worth about $30,000. PDS Planning Inc purchased a new position in shares of ChargePoint during the first quarter valued at approximately $31,000. CIBC Asset Management Inc lifted its position in ChargePoint by 50.7% during 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. Delap Wealth Advisory LLC purchased a new stake in ChargePoint in the second quarter worth approximately $31,000. Finally, Perennial Investment Advisors LLC grew its position in ChargePoint by 74.4% in the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after purchasing an additional 10,400 shares during the period. 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.