ChargePoint (NYSE:CHPT) Upgraded at Capital One Financial

Capital One Financial upgraded shares of ChargePoint (NYSE:CHPT) to a strong-buy rating in a research report sent to investors on Tuesday, Zacks.com reports.

Other research analysts have also issued research reports about the stock. B. Riley raised shares of ChargePoint to a hold rating in a research report on Tuesday, June 25th. Evercore ISI lowered their price target on shares of ChargePoint from $6.00 to $4.00 and set an outperform rating on the stock in a report on Thursday, September 5th. TD Cowen cut ChargePoint from a buy rating to a hold rating and dropped their target price for the stock from $3.00 to $2.00 in a report on Thursday, September 5th. Royal Bank of Canada cut their price target on shares of ChargePoint from $3.00 to $2.50 and set a sector perform rating for the company in a report on Thursday, September 5th. Finally, The Goldman Sachs Group cut their price objective on ChargePoint from $1.50 to $1.25 and set a sell rating for the company in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $3.39.

ChargePoint Stock Down 4.0 %

NYSE:CHPT opened at $1.45 on Tuesday. The firm has a market capitalization of $625.79 million, a price-to-earnings ratio of -1.23 and a beta of 1.70. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 1.24. The business’s fifty day moving average price is $1.80 and its 200 day moving average price is $1.72. ChargePoint has a 1-year low of $1.21 and a 1-year high of $5.49.

Insider Activity at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 19,007 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at $563,490.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of ChargePoint stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the sale, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at $3,264,436. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mansi Khetani sold 19,007 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following 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. Over the last three months, insiders sold 51,503 shares of company stock valued at $72,104. 3.50% of the stock is owned by insiders.

Institutional Trading of ChargePoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHPT. Susquehanna Fundamental Investments LLC purchased a new position in ChargePoint during the first quarter valued at $258,000. Vanguard Group Inc. grew its stake in shares of ChargePoint by 26.3% during the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after acquiring an additional 7,645,210 shares during the period. Public Employees Retirement System of Ohio increased its stake in ChargePoint by 6.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after buying an additional 7,838 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in ChargePoint during the 1st quarter valued at approximately $30,000. Finally, Tidal Investments LLC increased its holdings in shares of ChargePoint by 58.8% in the first quarter. Tidal Investments LLC now owns 333,866 shares of the company’s stock worth $634,000 after purchasing an additional 123,597 shares during the last quarter. Hedge funds and other 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.