Peak6 LLC Buys Shares of 140,001 ChargePoint Holdings, Inc. (NYSE:CHPT)

Peak6 LLC purchased a new position in ChargePoint Holdings, Inc. (NYSE:CHPT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 140,001 shares of the company’s stock, valued at approximately $150,000.

Several other hedge funds also recently made changes to their positions in CHPT. State Street Corp boosted its stake in ChargePoint by 1.4% in the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock worth $14,107,000 after purchasing an additional 142,767 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ChargePoint by 4.6% in the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after buying an additional 399,070 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of ChargePoint in the third quarter valued at approximately $117,000. JPMorgan Chase & Co. grew its stake in ChargePoint by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after acquiring an additional 9,519 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in ChargePoint by 25.1% during the 4th quarter. Inspire Investing LLC now owns 375,860 shares of the company’s stock worth $402,000 after acquiring an additional 75,362 shares during the period. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Stock Up 2.5 %

Shares of NYSE CHPT opened at $0.58 on Tuesday. The stock has a market capitalization of $264.98 million, a P/E ratio of -0.78 and a beta of 2.05. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. ChargePoint Holdings, Inc. has a one year low of $0.51 and a one year high of $2.44. The firm’s 50 day simple moving average is $0.66 and its two-hundred day simple moving average is $0.98.

ChargePoint (NYSE:CHPT) last issued its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The business had revenue of $101.89 million during the quarter, compared to analysts’ expectations of $100.99 million. As a group, analysts expect that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CHPT. UBS Group reduced their price target on shares of ChargePoint from $0.70 to $0.65 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus reduced their target price on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price objective on ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a report on Thursday, April 10th. Finally, Evercore ISI downgraded shares of ChargePoint from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $4.00 to $1.00 in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1.52.

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.