Stifel Nicolaus Cuts ChargePoint (NYSE:CHPT) Price Target to $1.00

ChargePoint (NYSE:CHPT) had its price target cut by Stifel Nicolaus from $2.00 to $1.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. Royal Bank of Canada reduced their price objective on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. UBS Group dropped their target price on ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Benchmark reaffirmed a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ChargePoint has an average rating of “Hold” and a consensus price target of $2.03.

ChargePoint Price Performance

CHPT stock opened at $0.67 on Monday. ChargePoint has a one year low of $0.56 and a one year high of $2.44. The firm has a 50-day moving average of $0.89 and a two-hundred day moving average of $1.16. The firm has a market capitalization of $295.04 million, a PE ratio of -0.90 and a beta of 1.85. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $101.89 million during the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. On average, analysts forecast that ChargePoint will post -0.57 earnings per share for the current year.

Insider Activity

In other ChargePoint news, CAO Henrik Gerdes sold 28,536 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $32,531.04. Following the completion of the sale, the chief accounting officer now directly owns 362,060 shares in the company, valued at $412,748.40. This 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 the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,148 shares of company stock valued at $99,349 over the last 90 days. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CHPT. Jeppson Wealth Management LLC increased its holdings 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 worth $59,000 after purchasing an additional 9,480 shares during the period. JPMorgan Chase & Co. increased its stake in ChargePoint by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after acquiring an additional 9,519 shares during the period. Jones Financial Companies Lllp increased its stake in ChargePoint by 61.1% during the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock valued at $48,000 after acquiring an additional 17,075 shares during the period. Swiss National Bank raised its holdings in ChargePoint by 2.2% in the 4th quarter. Swiss National Bank now owns 806,400 shares of the company’s stock valued at $863,000 after acquiring an additional 17,600 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of 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 period. 37.77% of the stock is currently 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.