ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) has earned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $17.68.

A number of analysts have issued reports on CHPT shares. B. Riley decreased their price target on ChargePoint from $18.00 to $12.00 in a research note on Monday, May 8th. Citigroup cut their price objective on ChargePoint from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 6th. JPMorgan Chase & Co. cut their price objective on ChargePoint from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, March 3rd. The Goldman Sachs Group initiated coverage on ChargePoint in a report on Tuesday, March 21st. They issued a “neutral” rating and a $10.00 price objective on the stock. Finally, Guggenheim initiated coverage on ChargePoint in a report on Tuesday, May 2nd. They issued a “neutral” rating on the stock.

ChargePoint Stock Up 4.8 %

Shares of NYSE:CHPT opened at $8.31 on Tuesday. The stock’s 50-day moving average price is $9.06 and its two-hundred day moving average price is $10.44. The company has a current ratio of 2.48, a quick ratio of 2.23 and a debt-to-equity ratio of 0.83. ChargePoint has a 12-month low of $7.82 and a 12-month high of $19.92. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -8.07 and a beta of 1.69.

ChargePoint (NYSE:CHPT – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. ChargePoint had a negative return on equity of 82.84% and a negative net margin of 73.59%. The firm had revenue of $152.83 million for the quarter, compared to analyst estimates of $164.31 million. On average, research analysts forecast that ChargePoint will post -0.7 EPS for the current year.

Insiders Place Their Bets

In other ChargePoint news, insider Michael Linse sold 270,162 shares of ChargePoint stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $8.60, for a total transaction of $2,323,393.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Richard Wilmer sold 4,312 shares of ChargePoint stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $9.40, for a total value of $40,532.80. Following the completion of the transaction, the insider now owns 658,018 shares in the company, valued at approximately $6,185,369.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Linse sold 270,162 shares of ChargePoint stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $8.60, for a total value of $2,323,393.20. The disclosure for this sale can be found here. Insiders have sold 409,610 shares of company stock worth $3,516,846 in the last three months. 23.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. American International Group Inc. boosted its position in ChargePoint by 30.0% during the 2nd quarter. American International Group Inc. now owns 3,101 shares of the company’s stock valued at $42,000 after purchasing an additional 716 shares during the period. Biltmore Wealth Management LLC acquired a new position in ChargePoint during the 4th quarter valued at approximately $230,588,000. Jacobi Capital Management LLC boosted its position in ChargePoint by 8.2% during the 3rd quarter. Jacobi Capital Management LLC now owns 11,819 shares of the company’s stock valued at $174,000 after purchasing an additional 900 shares during the period. Blair William & Co. IL boosted its position in ChargePoint by 7.9% during the 4th quarter. Blair William & Co. IL now owns 12,338 shares of the company’s stock valued at $118,000 after purchasing an additional 900 shares during the period. Finally, Amalgamated Bank raised its stake in ChargePoint by 1.6% during the 4th quarter. Amalgamated Bank now owns 57,786 shares of the company’s stock valued at $551,000 after acquiring an additional 914 shares in the last quarter. Institutional investors and hedge funds own 44.87% of the company’s stock.

About ChargePoint

(Get Rating)

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.