ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Consensus Rating of “Hold” from Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned an average rating of “Hold” from the twenty ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $2.65.

CHPT has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. Wolfe Research initiated coverage on ChargePoint in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group dropped their price objective on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. Finally, Royal Bank of Canada dropped their price objective on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Thursday, September 5th.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $1.28 on Tuesday. ChargePoint has a one year low of $1.21 and a one year high of $3.54. 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 firm’s 50 day simple moving average is $1.46 and its two-hundred day simple moving average is $1.63. The stock has a market capitalization of $550.26 million, a P/E ratio of -1.29 and a beta of 1.69.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. The business had revenue of $108.54 million for the quarter, compared to analysts’ expectations of $114.15 million. As a group, analysts expect that ChargePoint will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other ChargePoint news, CFO Mansi Khetani sold 23,409 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 849,084 shares in the company, valued at approximately $1,146,263.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Henrik Gerdes sold 26,288 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16. Following the completion of the transaction, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mansi Khetani sold 23,409 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the transaction, the chief financial officer now owns 849,084 shares of the company’s stock, valued at $1,146,263.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,803 shares of company stock worth $135,295. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ChargePoint

Large investors have recently bought and sold shares of the business. CreativeOne Wealth LLC bought a new stake in ChargePoint in the 1st quarter worth about $30,000. PDS Planning Inc bought a new stake in ChargePoint in the 1st quarter worth about $31,000. CIBC Asset Management Inc increased its holdings in ChargePoint by 50.7% in the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after buying an additional 5,770 shares in the last quarter. Delap Wealth Advisory LLC bought a new stake in ChargePoint in the 2nd quarter worth about $31,000. Finally, Financial Advocates Investment Management bought a new stake in ChargePoint in the 3rd quarter worth about $29,000. 37.77% of the stock is currently owned by institutional investors.

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.