ChargePoint (NYSE:CHPT) Given Sell Rating at The Goldman Sachs Group

The Goldman Sachs Group restated their sell rating on shares of ChargePoint (NYSE:CHPT) in a report issued on Tuesday morning, Marketbeat.com reports. The Goldman Sachs Group currently has a $1.50 target price on the stock, down from their prior target price of $2.00.

Other equities analysts also recently issued reports about the company. Oppenheimer reiterated a market perform rating on shares of ChargePoint in a research report on Wednesday, March 6th. R. F. Lafferty lowered their target price on ChargePoint from $4.00 to $3.00 and set a hold rating on the stock in a research report on Wednesday, March 6th. Benchmark reiterated a buy rating and set a $4.25 target price on shares of ChargePoint in a research report on Wednesday, March 6th. DA Davidson reiterated a buy rating and set a $4.00 target price on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a buy rating and set a $3.00 target price on shares of ChargePoint in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $6.14.

ChargePoint Stock Performance

CHPT stock opened at $1.77 on Tuesday. The company has a market cap of $739.91 million, a P/E ratio of -1.43 and a beta of 1.62. ChargePoint has a 1 year low of $1.56 and a 1 year high of $10.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65. The stock’s fifty day moving average price is $1.93 and its 200-day moving average price is $2.44.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The firm had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. On average, equities analysts forecast that ChargePoint will post -0.63 earnings per share for the current year.

Insider Buying and Selling

In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $35,595.45. Following the sale, the chief financial officer now directly owns 421,500 shares in the company, valued at $788,205. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $35,595.45. Following the sale, the chief financial officer now directly owns 421,500 shares in the company, valued at $788,205. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the sale, the chief executive officer now owns 2,359,462 shares in the company, valued at $4,412,193.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,846 shares of company stock worth $296,562. Corporate insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Almanack Investment Partners LLC. bought a new position in shares of ChargePoint during the third quarter valued at approximately $43,000. First Manhattan Co. grew its stake in shares of ChargePoint by 65.4% during the first quarter. First Manhattan Co. now owns 3,085 shares of the company’s stock valued at $61,000 after buying an additional 1,220 shares during the last quarter. American International Group Inc. grew its stake in shares of ChargePoint by 30.0% during the second quarter. American International Group Inc. now owns 3,101 shares of the company’s stock valued at $42,000 after buying an additional 716 shares during the last quarter. Hollencrest Capital Management grew its stake in shares of ChargePoint by 162.2% during the first quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock valued at $36,000 after buying an additional 2,100 shares during the last quarter. Finally, Trium Capital LLP bought a new position in shares of ChargePoint during the first quarter valued at approximately $37,000. Institutional investors own 37.77% of the company’s stock.

About ChargePoint

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.