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

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given an average rating of “Reduce” by the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $12.15.

A number of analysts have recently issued reports on CHPT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, October 8th. Roth Mkm set a $8.50 price target on ChargePoint and gave the company a “neutral” rating in a research note on Friday, December 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $9.00 price objective (down from $10.00) on shares of ChargePoint in a research report on Friday, December 5th. UBS Group reiterated a “neutral” rating and issued a $9.00 price objective (down from $12.00) on shares of ChargePoint in a report on Monday, December 22nd. Finally, B. Riley cut their target price on shares of ChargePoint from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th.

ChargePoint Stock Down 2.3%

ChargePoint stock opened at $6.52 on Thursday. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93. The company’s 50-day moving average is $7.69 and its 200-day moving average is $10.00. The firm has a market capitalization of $154.19 million, a PE ratio of -0.63 and a beta of 1.40. ChargePoint has a fifty-two week low of $6.39 and a fifty-two week high of $21.13.

ChargePoint (NYSE:CHPT) last issued its earnings results on Thursday, December 4th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.88). The firm had revenue of $105.67 million during the quarter, compared to analyst estimates of $96.51 million. ChargePoint had a negative net margin of 59.54% and a negative return on equity of 209.46%. During the same quarter last year, the business posted ($1.94) earnings per share. Sell-side analysts anticipate that ChargePoint will post -0.57 earnings per share for the current year.

Insider Activity at ChargePoint

In other news, insider Jagdeep Ca Singh sold 4,832 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $33,775.68. Following the completion of the sale, the insider owned 124,627 shares in the company, valued at $871,142.73. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mansi Khetani sold 3,943 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total value of $27,561.57. Following the completion of the transaction, the chief financial officer directly owned 130,363 shares in the company, valued at $911,237.37. The trade was a 2.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,670 shares of company stock valued at $88,534 over the last 90 days. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in ChargePoint by 6,429.1% during the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock worth $1,553,000 after acquiring an additional 2,638,182 shares during the period. Goldman Sachs Group Inc. grew its position in shares of ChargePoint by 61.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock worth $2,293,000 after purchasing an additional 1,448,114 shares in the last quarter. Soviero Asset Management LP acquired a new position in shares of ChargePoint during the 2nd quarter worth approximately $633,000. Brevan Howard Capital Management LP bought a new position in shares of ChargePoint during the second quarter worth approximately $517,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of ChargePoint in the second quarter valued at approximately $518,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Company Profile

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.