ChargePoint (NYSE:CHPT) Upgraded to “Hold” by B. Riley

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

A number of other research analysts have also recently issued reports on CHPT. R. F. Lafferty decreased their price target on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. DA Davidson reiterated a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a research note on Wednesday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. TD Cowen cut their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a research note 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.96.

ChargePoint Trading Up 9.3 %

NYSE CHPT opened at $1.41 on Tuesday. The company has a fifty day simple moving average of $1.62 and a two-hundred day simple moving average of $1.88. The stock has a market cap of $596.94 million, a P/E ratio of -1.19 and a beta of 1.74. ChargePoint has a 12-month low of $1.21 and a 12-month high of $9.23. The company has a current ratio of 2.13, a quick ratio of 1.45 and a debt-to-equity ratio of 1.02.

Insiders Place Their Bets

In related news, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $38,810.80. Following the sale, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at $3,264,436. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Henrik Gerdes sold 43,596 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total value of $65,394.00. Following 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 SEC, which can be accessed through this hyperlink. Also, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at approximately $3,264,436. The disclosure for this sale can be found here. Insiders sold a total of 95,099 shares of company stock valued at $137,498 over the last 90 days. 3.50% of the stock is owned by company insiders.

Institutional Trading of ChargePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHPT. Vanguard Group Inc. raised its holdings in ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after purchasing an additional 7,645,210 shares in the last quarter. Norges Bank acquired a new stake in ChargePoint during the fourth quarter worth approximately $9,733,000. Wellington Management Group LLP raised its holdings in ChargePoint by 418.2% during the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after purchasing an additional 2,035,496 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in ChargePoint during the fourth quarter worth approximately $1,257,000. Finally, Invesco Ltd. raised its holdings in ChargePoint by 19.2% during the third quarter. Invesco Ltd. now owns 2,193,049 shares of the company’s stock worth $10,899,000 after purchasing an additional 353,988 shares in the last quarter. Institutional investors and hedge funds 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.