ChargePoint (NYSE:CHPT) Shares Down 3.9%

ChargePoint Holdings, Inc. (NYSE:CHPT) fell 3.9% on Tuesday . The company traded as low as $1.58 and last traded at $1.59. 4,736,336 shares changed hands during trading, a decline of 65% from the average session volume of 13,597,901 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

CHPT has been the subject of a number of analyst reports. DA Davidson reissued a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a research report on Wednesday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. TD Cowen decreased their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.96.

ChargePoint Stock Down 9.1 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 2.13 and a quick ratio of 1.45. The company has a market cap of $635.04 million, a PE ratio of -1.27 and a beta of 1.74. The business’s 50 day moving average is $1.64 and its 200-day moving average is $1.91.

Hedge Funds Weigh In On ChargePoint

Several large investors have recently bought and sold shares of the business. Mutual Advisors LLC increased its holdings in shares of ChargePoint by 9.2% in the 3rd quarter. Mutual Advisors LLC now owns 43,910 shares of the company’s stock valued at $218,000 after acquiring an additional 3,700 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in ChargePoint by 3.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after purchasing an additional 4,910 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of ChargePoint by 34.2% during the 4th quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock worth $47,000 after buying an additional 5,085 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of ChargePoint by 3.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 199,741 shares of the company’s stock worth $993,000 after buying an additional 6,197 shares during the last quarter. Finally, O ROURKE & COMPANY Inc boosted its holdings in shares of ChargePoint by 34.2% in the 4th quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock valued at $57,000 after buying an additional 6,207 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

About ChargePoint

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.