ChargePoint (NYSE:CHPT) Price Target Cut to $1.50 by Analysts at UBS Group

ChargePoint (NYSE:CHPT) had its price target reduced by UBS Group from $1.80 to $1.50 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the company. Wolfe Research initiated coverage on ChargePoint in a report on Thursday, September 5th. They issued a peer perform rating for the company. Royal Bank of Canada dropped their price target on ChargePoint from $3.00 to $2.50 and set a sector perform rating on the stock in a research report on Thursday, September 5th. Evercore ISI dropped their price target on ChargePoint from $6.00 to $4.00 and set an outperform rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group dropped their price target on ChargePoint from $1.50 to $1.25 and set a sell rating on the stock in a research report on Friday, September 6th. Finally, Benchmark restated a buy rating and issued a $3.00 price target on shares of ChargePoint in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ChargePoint has an average rating of Hold and an average price target of $3.34.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $1.33 on Tuesday. The company has a market capitalization of $560.95 million, a price-to-earnings ratio of -1.12 and a beta of 1.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The business has a 50-day moving average of $1.54 and a two-hundred day moving average of $1.66. ChargePoint has a 1 year low of $1.21 and a 1 year high of $3.65.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The company had revenue of $108.54 million during the quarter, compared to the consensus estimate of $114.15 million. On average, analysts forecast that ChargePoint will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mansi Khetani sold 23,409 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now owns 849,084 shares in the company, valued at $1,146,263.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mansi Khetani sold 23,409 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now owns 849,084 shares in the company, valued at $1,146,263.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard Wilmer sold 27,252 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $36,790.20. Following the completion of the sale, the chief executive officer now owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,803 shares of company stock worth $135,295. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its stake in ChargePoint by 8.8% in the 3rd quarter. Creative Planning now owns 205,008 shares of the company’s stock valued at $281,000 after buying an additional 16,645 shares in the last quarter. Inspire Investing LLC purchased a new stake in ChargePoint in the 3rd quarter valued at approximately $412,000. Sanctuary Advisors LLC purchased a new stake in ChargePoint in the 2nd quarter valued at approximately $138,000. Point72 Asset Management L.P. purchased a new stake in ChargePoint in the 2nd quarter valued at approximately $13,007,000. Finally, Algert Global LLC purchased a new stake in ChargePoint in the 2nd quarter valued at approximately $58,000. Hedge funds and other 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.