ChargePoint Holdings, Inc. (NYSE:CHPT) Given Consensus Rating of “Hold” by Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given a consensus rating of “Hold” by the twenty research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $6.14.

CHPT has been the topic of a number of recent research reports. DA Davidson reiterated a “buy” rating and issued a $4.00 target price on shares of ChargePoint in a report on Wednesday, March 6th. The Goldman Sachs Group restated a “sell” rating and set a $1.50 price objective (down from $2.00) on shares of ChargePoint in a research note on Tuesday. Benchmark restated a “buy” rating and set a $4.25 price objective on shares of ChargePoint in a research note on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research note on Thursday, April 4th. Finally, R. F. Lafferty dropped their price objective on ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th.

Insider Buying and Selling

In related news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the sale, the chief financial officer now owns 421,500 shares of the company’s stock, valued at approximately $788,205. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Richard Wilmer sold 25,376 shares of ChargePoint stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the sale, the chief executive officer now owns 2,359,462 shares of the company’s stock, valued at approximately $4,412,193.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $35,595.45. Following the transaction, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at approximately $788,205. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,846 shares of company stock valued at $296,562. 12.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CHPT. Balentine LLC purchased a new position in ChargePoint during the 4th quarter valued at about $26,000. Comerica Bank purchased a new position in ChargePoint during the 3rd quarter valued at about $26,000. Pathstone Holdings LLC purchased a new position in shares of ChargePoint during the fourth quarter worth about $30,000. RWA Wealth Partners LLC purchased a new position in shares of ChargePoint during the fourth quarter worth about $31,000. Finally, Ingalls & Snyder LLC purchased a new position in shares of ChargePoint during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Price Performance

Shares of CHPT opened at $1.66 on Friday. ChargePoint has a 12-month low of $1.56 and a 12-month high of $10.10. The business’s fifty day moving average is $1.92 and its 200 day moving average is $2.43. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87. The stock has a market cap of $691.84 million, a P/E ratio of -1.33 and a beta of 1.62.

ChargePoint (NYSE:CHPT) last issued its 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. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. The company had revenue of $115.83 million for the quarter, compared to analysts’ expectations of $126.48 million. Sell-side analysts anticipate that ChargePoint will post -0.63 earnings per share for the current fiscal year.

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.