ChargePoint Holdings, Inc. (NYSE:CHPT) Given Average Recommendation of “Moderate Buy” by Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.20.

Several analysts have recently issued reports on the company. DA Davidson reduced their target price on ChargePoint from $18.00 to $15.00 in a report on Monday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of ChargePoint in a research note on Tuesday, August 8th. Bank of America raised shares of ChargePoint from a “neutral” rating to a “buy” rating and decreased their target price for the company from $15.50 to $14.00 in a report on Tuesday, May 30th. TD Cowen cut their price target on shares of ChargePoint from $20.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, August 15th. Finally, Citigroup decreased their price objective on shares of ChargePoint from $13.00 to $10.80 in a research note on Tuesday, June 20th.

ChargePoint Trading Up 1.2 %

CHPT stock opened at $7.33 on Thursday. ChargePoint has a 52 week low of $6.65 and a 52 week high of $19.92. The company’s 50-day simple moving average is $8.02 and its 200 day simple moving average is $9.00. The company has a market capitalization of $2.59 billion, a PE ratio of -7.40 and a beta of 1.59. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.97 and a current ratio of 2.37.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results on Thursday, June 1st. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $130.00 million for the quarter, compared to the consensus estimate of $128.27 million. ChargePoint had a negative return on equity of 88.36% and a negative net margin of 64.78%. The firm’s quarterly revenue was up 59.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.26) earnings per share. As a group, sell-side analysts anticipate that ChargePoint will post -0.75 earnings per share for the current year.

Insider Transactions at ChargePoint

In related news, insider Michael D. Hughes sold 58,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $8.41, for a total transaction of $487,780.00. Following the sale, the insider now owns 897,894 shares of the company’s stock, valued at approximately $7,551,288.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Michael D. Hughes sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $8.41, for a total value of $487,780.00. Following the completion of the transaction, the insider now owns 897,894 shares of the company’s stock, valued at $7,551,288.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henrik Gerdes sold 5,518 shares of ChargePoint stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $8.03, for a total transaction of $44,309.54. Following the sale, the chief accounting officer now owns 83,537 shares in the company, valued at $670,802.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 816,111 shares of company stock worth $7,091,477. Corporate insiders own 12.90% of the company’s stock.

Institutional Trading of ChargePoint

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management increased its position in ChargePoint by 162.2% during the 1st quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock valued at $36,000 after purchasing an additional 2,100 shares during the period. Trium Capital LLP acquired a new stake in shares of ChargePoint during the first quarter worth $37,000. Ameritas Advisory Services LLC bought a new position in ChargePoint during the first quarter worth $38,000. Dark Forest Capital Management LP acquired a new position in ChargePoint in the first quarter valued at $39,000. Finally, Smithfield Trust Co acquired a new position in ChargePoint in the second quarter valued at $40,000. 45.01% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, 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. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.