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

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned a consensus recommendation of “Hold” from the twenty research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.14.

Several research analysts have recently issued reports on CHPT shares. Benchmark restated a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a report on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a report on Thursday, April 4th. The Goldman Sachs Group restated a “sell” rating and issued a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. R. F. Lafferty lowered their target price on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 price target (down previously from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $1.39 on Friday. ChargePoint has a 52 week low of $1.34 and a 52 week high of $10.10. The company’s 50 day moving average is $1.87 and its two-hundred day moving average is $2.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. The company had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. On average, analysts expect that ChargePoint will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following the sale, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at approximately $4,412,193.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Mansi Khetani sold 19,035 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $35,595.45. Following the sale, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at $788,205. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Wilmer sold 25,376 shares of ChargePoint stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following the transaction, the chief executive officer now directly owns 2,359,462 shares in the company, valued at $4,412,193.94. The disclosure for this sale can be found here. Insiders have sold 154,846 shares of company stock valued at $296,562 in the last ninety days. Insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CHPT. Bank of New York Mellon Corp lifted its position in ChargePoint by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 652,385 shares of the company’s stock valued at $12,969,000 after buying an additional 48,903 shares in the last quarter. HighTower Advisors LLC lifted its position in ChargePoint by 46.4% during the first quarter. HighTower Advisors LLC now owns 30,579 shares of the company’s stock valued at $610,000 after buying an additional 9,689 shares in the last quarter. Private Advisor Group LLC lifted its position in ChargePoint by 152.8% during the first quarter. Private Advisor Group LLC now owns 35,608 shares of the company’s stock valued at $708,000 after buying an additional 21,524 shares in the last quarter. D.A. Davidson & CO. acquired a new position in ChargePoint during the first quarter valued at approximately $213,000. Finally, MetLife Investment Management LLC acquired a new position in ChargePoint during the first quarter valued at approximately $91,000. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.