Wealth Enhancement Advisory Services LLC Makes New $109,000 Investment in ChargePoint Holdings, Inc. (NYSE:CHPT)

Wealth Enhancement Advisory Services LLC bought a new position in ChargePoint Holdings, Inc. (NYSE:CHPT) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 179,648 shares of the company’s stock, valued at approximately $109,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Pallas Capital Advisors LLC bought a new position in shares of ChargePoint during the first quarter valued at $72,000. 111 Capital purchased a new stake in shares of ChargePoint during the fourth quarter valued at $26,000. Perennial Advisors LLC purchased a new stake in shares of ChargePoint during the fourth quarter valued at $26,000. Tidal Investments LLC boosted its position in shares of ChargePoint by 43.6% during the fourth quarter. Tidal Investments LLC now owns 466,751 shares of the company’s stock valued at $499,000 after buying an additional 141,617 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new stake in shares of ChargePoint during the fourth quarter valued at $8,746,000. 37.77% of the stock is owned by institutional investors.

ChargePoint Stock Down 3.1%

CHPT stock opened at $0.69 on Friday. ChargePoint Holdings, Inc. has a fifty-two week low of $0.51 and a fifty-two week high of $2.44. The business’s 50-day moving average is $0.71 and its two-hundred day moving average is $0.77. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.12 and a current ratio of 1.82. The company has a market cap of $315.70 million, a price-to-earnings ratio of -1.15 and a beta of 2.23.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Wednesday, June 4th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). ChargePoint had a negative net margin of 65.79% and a negative return on equity of 131.65%. The company had revenue of $97.64 million for the quarter, compared to analysts’ expectations of $100.43 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. As a group, analysts forecast that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on CHPT shares. The Goldman Sachs Group dropped their price objective on ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a research report on Thursday, April 10th. TD Cowen raised ChargePoint to a “hold” rating in a research report on Monday. UBS Group dropped their price objective on ChargePoint from $0.70 to $0.65 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Thursday, June 5th. Finally, Evercore ISI downgraded ChargePoint from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $4.00 to $1.00 in a report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $1.39.

About ChargePoint

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.