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

ChargePoint Holdings, Inc. (NYSE:CHPT) has received an average recommendation of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $2.46.

A number of equities analysts have issued reports on CHPT shares. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. Royal Bank of Canada reduced their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 5th. Stifel Nicolaus lowered their price target on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. UBS Group cut their price objective on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Finally, Benchmark reiterated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Wednesday, November 20th.

ChargePoint Stock Down 3.0 %

CHPT stock opened at $0.79 on Thursday. The company has a market capitalization of $349.45 million, a price-to-earnings ratio of -1.07 and a beta of 1.70. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. The business’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.33. ChargePoint has a fifty-two week low of $0.79 and a fifty-two week high of $2.44.

Insider Buying and Selling at ChargePoint

In related news, CFO Mansi Khetani sold 22,038 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $25,123.32. Following the transaction, the chief financial officer now owns 1,230,305 shares in the company, valued at $1,402,547.70. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jagdeep Ca Singh sold 36,574 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the completion of the sale, the insider now owns 1,161,430 shares in the company, valued at $1,324,030.20. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,148 shares of company stock worth $99,349. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Hedge funds and other institutional investors have recently modified their holdings of the company. Cibc World Markets Corp purchased a new stake in ChargePoint during the fourth quarter valued at $40,000. Corient Private Wealth LLC increased its position in shares of ChargePoint by 96.9% during the 4th quarter. Corient Private Wealth LLC now owns 65,765 shares of the company’s stock valued at $70,000 after purchasing an additional 32,364 shares during the last quarter. Swiss National Bank lifted its stake in shares of ChargePoint by 2.2% in the 4th quarter. Swiss National Bank now owns 806,400 shares of the company’s stock worth $863,000 after purchasing an additional 17,600 shares during the period. Marathon Trading Investment Management LLC boosted its holdings in shares of ChargePoint by 151.6% in the fourth quarter. Marathon Trading Investment Management LLC now owns 139,400 shares of the company’s stock worth $149,000 after buying an additional 84,000 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. purchased a new position in shares of ChargePoint in the fourth quarter worth approximately $171,000. 37.77% of the stock is 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.