Krane Funds Advisors LLC Sells 29,373 Shares of ChargePoint Holdings, Inc. (NYSE:CHPT)

Krane Funds Advisors LLC lessened its stake in ChargePoint Holdings, Inc. (NYSE:CHPT) by 12.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 207,257 shares of the company’s stock after selling 29,373 shares during the period. Krane Funds Advisors LLC’s holdings in ChargePoint were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. boosted its holdings in ChargePoint by 131.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock valued at $50,000 after acquiring an additional 20,773 shares during the last quarter. Cibc World Markets Corp bought a new stake in ChargePoint during the fourth quarter valued at $40,000. Callan Family Office LLC acquired a new stake in ChargePoint during the 4th quarter worth about $45,000. Strategic Investment Advisors MI bought a new position in shares of ChargePoint in the 4th quarter worth about $46,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of ChargePoint by 61.1% in the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock valued at $48,000 after purchasing an additional 17,075 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Up 1.2 %

Shares of NYSE:CHPT opened at $0.58 on Monday. The business’s 50 day moving average is $0.74 and its 200 day moving average is $1.05. ChargePoint Holdings, Inc. has a 12-month low of $0.51 and a 12-month high of $2.44. The stock has a market cap of $255.23 million, a price-to-earnings ratio of -0.78 and a beta of 2.05. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. On average, sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHPT has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th. UBS Group set a $1.50 target price on shares of ChargePoint in a research report on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. Evercore ISI lowered shares of ChargePoint from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $4.00 to $1.00 in a report on Monday, March 31st. Finally, The Goldman Sachs Group reduced their target price on ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1.66.

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.