ChargePoint (NYSE:CHPT) Raised to Strong-Buy at Capital One Financial

ChargePoint (NYSE:CHPT) was upgraded by stock analysts at Capital One Financial to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. TD Cowen cut shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their target price for the company from $3.00 to $2.00 in a report on Thursday, September 5th. Benchmark reaffirmed a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a report on Thursday, September 5th. B. Riley raised shares of ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Needham & Company LLC decreased their price target on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, Evercore ISI reduced their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.39.

ChargePoint Trading Down 4.0 %

Shares of NYSE:CHPT opened at $1.45 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.45. The company’s 50-day moving average price is $1.80 and its two-hundred day moving average price is $1.72. The stock has a market capitalization of $625.79 million, a PE ratio of -1.23 and a beta of 1.70. ChargePoint has a one year low of $1.21 and a one year high of $5.49.

Insider Activity

In other news, CFO Mansi Khetani sold 19,007 shares of the company’s 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 owns 402,493 shares of the company’s stock, valued at $563,490.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were 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 approximately $3,264,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mansi Khetani sold 19,007 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the sale, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The disclosure for this sale can be found here. Insiders sold 51,503 shares of company stock valued at $72,104 over the last quarter. 3.50% of the stock is owned by company insiders.

Institutional Trading of ChargePoint

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position 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 worth $69,708,000 after buying an additional 7,645,210 shares during the period. Point72 Asset Management L.P. bought a new position in ChargePoint during the 2nd quarter valued at $13,007,000. Norges Bank bought a new position in ChargePoint during the 4th quarter valued at $9,733,000. Skandinaviska Enskilda Banken AB publ lifted its stake in ChargePoint by 62.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock valued at $2,452,000 after acquiring an additional 621,536 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in ChargePoint by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after acquiring an additional 487,262 shares in the last quarter. Institutional investors and hedge funds 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.