ChargePoint (NYSE:CHPT) Rating Increased to Hold at B. Riley

ChargePoint (NYSE:CHPT) was upgraded by investment analysts at B. Riley to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

Several other research analysts have also issued reports on the company. TD Cowen decreased their target price on ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. Needham & Company LLC reissued a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research report on Thursday, June 6th. The Goldman Sachs Group reissued a “sell” rating and issued a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Benchmark reissued a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, DA Davidson reaffirmed a “buy” rating and set a $4.00 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.96.

ChargePoint Stock Up 9.3 %

Shares of NYSE:CHPT opened at $1.41 on Tuesday. ChargePoint has a 52-week low of $1.21 and a 52-week high of $9.23. The firm has a market capitalization of $596.94 million, a P/E ratio of -1.19 and a beta of 1.74. The stock has a 50 day moving average price of $1.62 and a 200-day moving average price of $1.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13.

Insiders Place Their Bets

In other ChargePoint news, CFO Mansi Khetani sold 19,007 shares of ChargePoint stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total value of $65,394.00. Following the completion of the sale, the chief accounting officer now owns 438,004 shares of the company’s stock, valued at $657,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mansi Khetani sold 19,007 shares of ChargePoint stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,099 shares of company stock valued at $137,498. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several large investors have recently modified their holdings of the company. Mutual Advisors LLC grew its holdings in shares of ChargePoint by 9.2% in the third quarter. Mutual Advisors LLC now owns 43,910 shares of the company’s stock worth $218,000 after acquiring an additional 3,700 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of ChargePoint by 3.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after acquiring an additional 4,910 shares during the period. Independent Advisor Alliance grew its holdings in shares of ChargePoint by 34.2% in the fourth quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock worth $47,000 after acquiring an additional 5,085 shares during the period. O ROURKE & COMPANY Inc grew its holdings in ChargePoint by 34.2% during the fourth quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock valued at $57,000 after purchasing an additional 6,207 shares during the period. Finally, Core Wealth Management Inc. grew its holdings in ChargePoint by 46.8% during the fourth quarter. Core Wealth Management Inc. now owns 20,015 shares of the company’s stock valued at $47,000 after purchasing an additional 6,380 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.