KLP Kapitalforvaltning AS Purchases New Stake in ChargePoint Holdings, Inc. (NYSE:CHPT)

KLP Kapitalforvaltning AS purchased a new position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 79,600 shares of the company’s stock, valued at approximately $85,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new position in shares of ChargePoint during the 4th quarter valued at $40,000. Callan Family Office LLC purchased a new position in ChargePoint in the fourth quarter valued at about $45,000. Strategic Investment Advisors MI acquired a new position in ChargePoint in the 4th quarter worth about $46,000. Jones Financial Companies Lllp increased its position in ChargePoint by 61.1% in the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after purchasing an additional 17,075 shares during the last quarter. Finally, Jeppson Wealth Management LLC raised its stake in shares of ChargePoint by 32.8% during the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company’s stock worth $61,000 after purchasing an additional 14,085 shares in the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on CHPT shares. The Goldman Sachs Group cut their price objective on shares of ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a research report on Thursday. Stifel Nicolaus reduced their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, March 10th. UBS Group set a $1.50 target price on shares of ChargePoint in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, Evercore ISI downgraded ChargePoint from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1.63.

ChargePoint Stock Down 2.3 %

CHPT opened at $0.58 on Friday. ChargePoint Holdings, Inc. has a 1-year low of $0.51 and a 1-year high of $2.44. The business has a 50 day moving average of $0.69 and a 200-day moving average of $1.02. The stock has a market capitalization of $267.13 million, a price-to-earnings ratio of -0.79 and a beta of 2.05. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. The company had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. As a group, sell-side analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

ChargePoint 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.