ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $12.15 Average PT from Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given an average recommendation of “Reduce” by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $12.15.

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a “sell” rating and issued a $5.00 price target on shares of ChargePoint in a research note on Thursday, January 15th. UBS Group reiterated a “neutral” rating and issued a $9.00 target price (down previously from $12.00) on shares of ChargePoint in a research note on Monday, December 22nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 price target (down previously from $10.00) on shares of ChargePoint in a report on Friday, December 5th. Roth Mkm set a $8.50 price target on shares of ChargePoint and gave the company a “neutral” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ChargePoint in a research report on Wednesday, January 21st.

Insider Buying and Selling at ChargePoint

In other news, insider Jagdeep Ca Singh sold 4,832 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $33,775.68. Following the transaction, the insider directly owned 124,627 shares of the company’s stock, valued at $871,142.73. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mansi Khetani sold 3,943 shares of ChargePoint stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total value of $27,561.57. Following the completion of the sale, the chief financial officer owned 130,363 shares of the company’s stock, valued at $911,237.37. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,670 shares of company stock valued at $88,534 in the last 90 days. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd bought a new position in shares of ChargePoint during the 3rd quarter valued at $60,000. BNP Paribas Financial Markets increased its position in shares of ChargePoint by 26.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock valued at $475,000 after purchasing an additional 9,208 shares during the last quarter. Trueblood Wealth Management LLC lifted its stake in shares of ChargePoint by 100.0% in the 2nd quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company’s stock worth $28,000 after purchasing an additional 20,000 shares during the period. Corient Private Wealth LLC lifted its stake in shares of ChargePoint by 57.1% in the 2nd quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock worth $47,000 after purchasing an additional 24,470 shares during the period. Finally, Perennial Investment Advisors LLC boosted its holdings in shares of ChargePoint by 36.8% in the second quarter. Perennial Investment Advisors LLC now owns 96,650 shares of the company’s stock worth $68,000 after buying an additional 26,000 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Performance

Shares of CHPT opened at $6.48 on Thursday. ChargePoint has a 52 week low of $6.37 and a 52 week high of $20.60. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. The stock has a market cap of $153.13 million, a P/E ratio of -0.63 and a beta of 1.40. The business’s 50 day moving average price is $7.50 and its 200-day moving average price is $9.74.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Thursday, December 4th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.88). ChargePoint had a negative net margin of 59.54% and a negative return on equity of 209.46%. The company had revenue of $105.67 million for the quarter, compared to analysts’ expectations of $96.51 million. During the same quarter in the previous year, the firm posted ($1.94) EPS. Equities research analysts anticipate that ChargePoint will post -0.57 earnings per share for the current fiscal year.

About ChargePoint

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.