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

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given a consensus rating of “Hold” by the nineteen analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $5.46.

CHPT has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research report on Thursday, April 4th. R. F. Lafferty decreased their target price on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $4.00 price target on shares of ChargePoint in a research report on Wednesday, March 6th.

ChargePoint Trading Up 7.8 %

ChargePoint stock opened at $1.79 on Tuesday. ChargePoint has a 52-week low of $1.21 and a 52-week high of $10.10. The firm has a market capitalization of $748.27 million, a price-to-earnings ratio of -1.44 and a beta of 1.69. The firm has a 50-day moving average price of $1.71 and a two-hundred day moving average price of $2.08. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPT) last posted its earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $115.83 million for the quarter, compared to analysts’ expectations of $126.48 million. Sell-side analysts expect that ChargePoint will post -0.63 earnings per share for the current year.

Insider Activity at ChargePoint

In related news, Director Michael Linse sold 100,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the transaction, the director now directly owns 1,209,867 shares in the company, valued at $2,347,141.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of ChargePoint 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 of the company’s stock, valued at $788,205. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Linse sold 100,000 shares of ChargePoint stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total value of $194,000.00. Following the sale, the director now directly owns 1,209,867 shares in the company, valued at $2,347,141.98. The disclosure for this sale can be found here. Insiders have sold 154,846 shares of company stock worth $296,562 over the last three months. Company insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of ChargePoint in the 4th quarter worth approximately $9,733,000. Vanguard Group Inc. boosted its holdings in shares of ChargePoint by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after acquiring an additional 3,325,694 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of ChargePoint by 418.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after acquiring an additional 2,035,496 shares in the last quarter. Cadian Capital Management LP acquired a new position in shares of ChargePoint in the 3rd quarter worth approximately $4,970,000. Finally, Quadrature Capital Ltd acquired a new position in shares of ChargePoint in the 4th quarter worth approximately $1,257,000. 37.77% of the stock is 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 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.