ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $10.67 Consensus Target Price from Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have received a consensus rating of “Reduce” from the eleven research firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $9.8889.

A number of brokerages have recently commented on CHPT. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, January 21st. UBS Group cut their price target on ChargePoint from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday. Roth Mkm set a $8.50 price objective on shares of ChargePoint and gave the company a “neutral” rating in a report on Friday, December 5th. JPMorgan Chase & Co. reduced their target price on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, March 5th. Finally, Royal Bank Of Canada dropped their price target on shares of ChargePoint from $9.00 to $6.50 and set a “sector perform” rating for the company in a research note on Thursday, March 5th.

ChargePoint Stock Performance

NYSE:CHPT opened at $5.40 on Friday. ChargePoint has a twelve month low of $5.22 and a twelve month high of $17.78. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. The stock’s 50-day simple moving average is $6.18 and its 200 day simple moving average is $8.37. The firm has a market capitalization of $127.69 million, a PE ratio of -0.58 and a beta of 1.40.

Insider Transactions at ChargePoint

In related news, CFO Mansi Khetani sold 3,943 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 130,363 shares in the company, valued at $911,237.37. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jagdeep Ca Singh sold 4,832 shares of ChargePoint stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total value of $33,775.68. Following the completion of the transaction, the insider directly owned 124,627 shares of the company’s stock, valued at approximately $871,142.73. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,670 shares of company stock valued at $88,534 over the last 90 days. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd increased 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 acquiring an additional 3,100 shares in the last quarter. Rothschild Investment LLC increased its stake in ChargePoint by 233.3% in 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. BNP Paribas Financial Markets boosted its position in shares of ChargePoint by 26.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after purchasing an additional 9,208 shares in the last quarter. EFG International AG acquired a new stake in shares of ChargePoint in the 4th quarter valued at about $72,000. Finally, Squarepoint Ops LLC raised its stake in ChargePoint by 126.1% during the 4th quarter. Squarepoint Ops LLC now owns 26,668 shares of the company’s stock worth $177,000 after buying an additional 14,871 shares during the period. 37.77% of the stock is currently owned by 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.