Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) PT at $4.96

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned a consensus rating of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $4.88.

A number of brokerages have recently commented on CHPT. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price (down previously from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. DA Davidson reaffirmed a “buy” rating and issued a $4.00 price target on shares of ChargePoint in a research report on Wednesday, March 6th. B. Riley raised ChargePoint to a “hold” rating in a research report on Tuesday. Finally, R. F. Lafferty lowered their price target on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th.

Insider Transactions at ChargePoint

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

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Balentine LLC purchased a new stake in ChargePoint in the fourth quarter worth $26,000. CreativeOne Wealth LLC purchased a new stake in ChargePoint in the first quarter worth $30,000. RWA Wealth Partners LLC purchased a new stake in ChargePoint in the fourth quarter worth $31,000. PDS Planning Inc purchased a new stake in ChargePoint in the first quarter worth $31,000. Finally, Ingalls & Snyder LLC purchased a new stake in ChargePoint in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Performance

NYSE:CHPT opened at $1.50 on Wednesday. The stock has a market cap of $635.04 million, a P/E ratio of -1.27 and a beta of 1.74. The firm’s fifty day simple moving average is $1.62 and its 200 day simple moving average is $1.87. ChargePoint has a twelve month low of $1.21 and a twelve month high of $9.23. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02.

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.