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

ChargePoint Holdings, Inc. (NYSE:CHPT) has received a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $2.46.

CHPT has been the topic of a number of research analyst reports. Capital One Financial raised shares of ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a report on Wednesday, November 20th. Royal Bank of Canada lowered their price target on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th. UBS Group lowered their price target on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th.

ChargePoint Stock Down 1.8 %

Shares of CHPT stock opened at $1.10 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94. The firm’s 50-day moving average is $1.18 and its 200-day moving average is $1.47. The stock has a market cap of $486.58 million, a price-to-earnings ratio of -1.49 and a beta of 1.70. ChargePoint has a 52-week low of $1.05 and a 52-week high of $2.44.

Insider Activity at ChargePoint

In related news, CAO Henrik Gerdes sold 28,536 shares of ChargePoint stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $32,531.04. Following the transaction, the chief accounting officer now directly owns 362,060 shares of the company’s stock, valued at $412,748.40. This trade represents a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the transaction, the chief financial officer now directly owns 1,230,305 shares in the company, valued at $1,402,547.70. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,148 shares of company stock valued at $99,349 over the last three months. 3.50% of the stock is owned by insiders.

Institutional Trading of ChargePoint

A number of hedge funds and other institutional investors have recently modified their holdings of CHPT. Financial Advocates Investment Management bought a new stake in shares of ChargePoint during the third quarter worth $29,000. Delap Wealth Advisory LLC bought a new stake in shares of ChargePoint during the second quarter worth $31,000. Perennial Investment Advisors LLC grew its stake in shares of ChargePoint by 74.4% during the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after buying an additional 10,400 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of ChargePoint by 152.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock worth $38,000 after buying an additional 15,358 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of ChargePoint by 41.4% during the second quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock worth $39,000 after buying an additional 7,723 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

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.