ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $3.39 Average PT from Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given an average rating of “Hold” by the nineteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $3.39.

CHPT has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Thursday, September 5th. Needham & Company LLC lowered their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. B. Riley upgraded shares of ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and decreased their target price for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. Finally, Royal Bank of Canada dropped their price target on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Thursday, September 5th.

ChargePoint Stock Performance

Shares of ChargePoint stock opened at $1.34 on Monday. ChargePoint has a 12 month low of $1.21 and a 12 month high of $6.11. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02. The stock has a market cap of $567.30 million, a PE ratio of -1.14 and a beta of 1.70. The business has a fifty day simple moving average of $1.84 and a 200-day simple moving average of $1.75.

Insider Buying and Selling at ChargePoint

In related news, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction 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 transaction, the chief accounting officer now owns 438,004 shares in the company, valued at approximately $657,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 438,004 shares of the company’s stock, 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 ChargePoint stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 402,493 shares in the company, valued at $563,490.20. The disclosure for this sale can be found here. Insiders have sold a total of 95,099 shares of company stock worth $137,498 over the last 90 days. Insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

A number of hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in shares of ChargePoint during the second quarter valued at about $138,000. Point72 Asset Management L.P. bought a new position in ChargePoint during the second quarter valued at about $13,007,000. Creative Planning raised its holdings in ChargePoint by 152.3% in the 2nd quarter. Creative Planning now owns 188,363 shares of the company’s stock valued at $284,000 after acquiring an additional 113,699 shares in the last quarter. Algert Global LLC bought a new stake in shares of ChargePoint in the 2nd quarter worth approximately $58,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of ChargePoint during the 2nd quarter worth approximately $231,000. 37.77% of the stock is owned by institutional investors.

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.