ChargePoint Holdings, Inc. (CHPT) – What Are Researchers Saying About This Stock?

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned a consensus rating of “Reduce” from the ten research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $7.07.

A number of research analysts recently weighed in on CHPT shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Thursday, September 3rd. UBS Group reissued a “neutral” rating and issued a $9.00 target price (up from $8.00) on shares of ChargePoint in a report on Tuesday, September 22nd. TD Cowen reissued a “hold” rating on shares of ChargePoint in a report on Thursday, September 3rd. B. Riley Financial restated a “neutral” rating on shares of ChargePoint in a research report on Friday, September 4th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research note on Thursday, September 3rd.

ChargePoint Price Performance

Shares of CHPT opened at $9.50 on Friday. ChargePoint has a twelve month low of $4.44 and a twelve month high of $11.26. The stock’s 50 day moving average is $8.20 and its two-hundred day moving average is $6.68. The firm has a market capitalization of $255.07 million, a PE ratio of -1.32 and a beta of 1.70. The company has a current ratio of 1.07, a quick ratio of 0.57 and a debt-to-equity ratio of 10.73.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, September 2nd. The company reported ($1.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.57) by $0.22. The company had revenue of $116.08 million for the quarter, compared to analysts’ expectations of $105.21 million. ChargePoint had a negative return on equity of 3,366.29% and a negative net margin of 40.59%. Research analysts anticipate that ChargePoint will post -3.75 earnings per share for the current year.

Insider Activity at ChargePoint

In related news, CFO Mansi Khetani sold 4,931 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $9.86, for a total transaction of $48,619.66. Following the sale, the chief financial officer owned 174,417 shares of the company’s stock, valued at approximately $1,719,751.62. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Eric Batill sold 4,302 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $9.86, for a total transaction of $42,417.72. Following the transaction, the general counsel owned 139,329 shares in the company, valued at $1,373,783.94. The trade was a 3.00% decrease in their ownership of the stock. 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 sold 16,682 shares of company stock worth $164,485 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in ChargePoint by 77.7% during the first quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock worth $700,000 after purchasing an additional 63,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in ChargePoint in the second quarter valued at $344,000. Squarepoint Ops LLC grew its holdings in ChargePoint by 70.8% in the second quarter. Squarepoint Ops LLC now owns 25,242 shares of the company’s stock valued at $149,000 after purchasing an additional 10,464 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of ChargePoint by 40.0% in the first quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock valued at $75,000 after buying an additional 4,352 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of ChargePoint in the first quarter valued at $59,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Company Profile

ChargePoint Holdings, Inc develops and operates electric vehicle charging infrastructure and related software. The company provides charging stations, cloud-based management tools and mobile applications that allow drivers to locate, access and pay for charging. Its solutions support home, workplace, multifamily, retail, fleet and public charging applications.

ChargePoint offers Level 2 AC charging equipment as well as DC fast-charging systems through its charging network. Businesses, property owners, fleet operators and other organizations can use the company’s software to manage charging access, energy use, payments and station performance.