Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $13.56

ChargePoint Holdings, Inc. (NYSE:CHPT) has received a consensus recommendation of “Reduce” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.5556.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on ChargePoint from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Thursday, September 4th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research report on Thursday, September 4th. TD Cowen dropped their price target on ChargePoint from $30.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, September 4th. Benchmark dropped their price target on ChargePoint from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Finally, Roth Capital set a $11.00 price target on ChargePoint and gave the company a “neutral” rating in a research report on Tuesday, September 2nd.

ChargePoint Price Performance

Shares of CHPT stock opened at $11.29 on Tuesday. The firm has a market cap of $263.62 million, a P/E ratio of -0.97 and a beta of 2.56. ChargePoint has a fifty-two week low of $8.55 and a fifty-two week high of $30.00. The business’s 50 day moving average price is $11.23 and its 200-day moving average price is $12.36. The company has a debt-to-equity ratio of 4.38, a quick ratio of 1.00 and a current ratio of 1.67.

Insider Buying and Selling at ChargePoint

In related news, insider John David Vice sold 2,363 shares of ChargePoint stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $11.27, for a total transaction of $26,631.01. Following the sale, the insider directly owned 123,615 shares in the company, valued at $1,393,141.05. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 7,426 shares of company stock worth $83,691 in the last 90 days. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in ChargePoint during the second quarter valued at $27,000. Focus Partners Wealth purchased a new position in ChargePoint during the first quarter valued at $27,000. Trueblood Wealth Management LLC raised its stake in ChargePoint by 100.0% during the second quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company’s stock valued at $28,000 after buying an additional 20,000 shares during the last quarter. Ethic Inc. purchased a new position in ChargePoint during the second quarter valued at $32,000. Finally, Teacher Retirement System of Texas purchased a new position in ChargePoint during the first quarter valued at $33,000. 37.77% of the stock is currently owned by institutional investors.

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.