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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have received an average recommendation of “Reduce” from the twelve brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $12.15.

Several research firms have recently weighed in on CHPT. The Goldman Sachs Group reiterated a “sell” rating and set a $5.00 target price on shares of ChargePoint in a research report on Thursday, January 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $9.00 price target (down previously from $10.00) on shares of ChargePoint in a research note on Friday, December 5th. B. Riley Financial lowered their price objective on shares of ChargePoint from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ChargePoint in a research report on Wednesday, January 21st. Finally, Roth Mkm set a $8.50 price target on shares of ChargePoint and gave the company a “neutral” rating in a research note on Friday, December 5th.

ChargePoint Stock Performance

Shares of NYSE:CHPT opened at $5.89 on Monday. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 8.38. ChargePoint has a 12 month low of $5.53 and a 12 month high of $17.78. The company has a market capitalization of $139.32 million, a price-to-earnings ratio of -0.57 and a beta of 1.40. The firm’s 50-day moving average is $6.97 and its 200 day moving average is $9.21.

ChargePoint (NYSE:CHPT) last announced 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). ChargePoint had a negative net margin of 59.54% and a negative return on equity of 209.46%. The business had revenue of $105.67 million for the quarter, compared to analysts’ expectations of $96.51 million. During the same quarter last year, the firm earned ($1.94) EPS. Research analysts predict that ChargePoint will post -0.57 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jagdeep Ca Singh sold 4,832 shares of the firm’s stock in a transaction 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 transaction, the insider owned 124,627 shares in the company, valued at approximately $871,142.73. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mansi Khetani sold 3,943 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $27,561.57. Following the completion of the sale, the chief financial officer directly owned 130,363 shares of the company’s stock, valued at approximately $911,237.37. This trade represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 12,670 shares of company stock valued at $88,534. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChargePoint

Several institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in ChargePoint in the fourth quarter worth approximately $1,827,000. Charles Schwab Investment Management Inc. raised its position in shares of ChargePoint by 28.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 135,165 shares of the company’s stock worth $897,000 after acquiring an additional 29,814 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of ChargePoint during the 4th quarter worth $538,000. Goldman Sachs Group Inc. boosted its position in ChargePoint by 153.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 179,686 shares of the company’s stock valued at $1,193,000 after purchasing an additional 108,722 shares in the last quarter. Finally, Rothschild Investment LLC boosted its position in ChargePoint by 233.3% during the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after purchasing an additional 3,500 shares in the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

About ChargePoint

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.