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

ChargePoint Holdings, Inc. (NYSE:CHPTGet Free Report) has been given an average recommendation of “Reduce” by the ten research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.3125.

A number of equities research analysts have commented on CHPT shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $6.50 price objective on shares of ChargePoint in a report on Thursday, June 4th. TD Cowen reaffirmed a “hold” rating and issued a $7.50 target price (up from $7.00) on shares of ChargePoint in a research note on Wednesday, June 17th. UBS Group reiterated a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of ChargePoint in a research report on Tuesday, June 23rd. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research note on Thursday, June 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a report on Friday, July 17th.

Get Our Latest Analysis on ChargePoint

Insider Transactions at ChargePoint

In other news, General Counsel Eric Batill sold 4,979 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $7.13, for a total transaction of $35,500.27. Following the completion of the sale, the general counsel owned 143,631 shares in the company, valued at $1,024,089.03. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mansi Khetani sold 8,152 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $7.13, for a total value of $58,123.76. Following the transaction, the chief financial officer directly owned 179,348 shares in the company, valued at $1,278,751.24. This trade represents a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 29,164 shares of company stock valued at $208,037 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of ChargePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHPT. Rothschild Investment LLC raised its holdings in ChargePoint by 233.3% during the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after purchasing an additional 3,500 shares during the last quarter. Pilgrim Partners Asia Pte Ltd boosted its stake in shares of ChargePoint by 56.4% in the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock valued at $57,000 after purchasing an additional 3,100 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of ChargePoint in the 4th quarter valued at about $73,000. EFG International AG acquired a new stake in shares of ChargePoint during the 4th quarter worth approximately $72,000. Finally, R Squared Ltd acquired a new stake in shares of ChargePoint during the 1st quarter worth approximately $59,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Price Performance

ChargePoint stock opened at $6.19 on Monday. The business’s fifty day moving average is $6.16 and its two-hundred day moving average is $6.15. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.56 and a current ratio of 1.15. The firm has a market cap of $151.11 million, a P/E ratio of -0.71 and a beta of 1.75. ChargePoint has a 52 week low of $4.44 and a 52 week high of $12.62.

ChargePoint (NYSE:CHPTGet Free Report) last announced its earnings results on Wednesday, June 3rd. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.64). ChargePoint had a negative net margin of 49.66% and a negative return on equity of 504.42%. The business had revenue of $101.82 million during the quarter, compared to analyst estimates of $95.64 million. Equities research analysts forecast that ChargePoint will post -5.48 earnings per share for the current fiscal year.

ChargePoint Company Profile

(Get Free Report)

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.

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Analyst Recommendations for ChargePoint (NYSE:CHPT)

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