ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $12.15 Average PT from Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned an average recommendation of “Reduce” from the twelve analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $12.15.

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $9.00 price target (down previously from $10.00) on shares of ChargePoint in a report on Friday, December 5th. B. Riley Financial decreased their target price on ChargePoint from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. The Goldman Sachs Group reissued a “sell” rating and set a $5.00 price objective on shares of ChargePoint in a report on Thursday, January 15th. UBS Group restated a “neutral” rating and issued a $9.00 price objective (down from $12.00) on shares of ChargePoint in a research report on Monday, December 22nd. Finally, Roth Mkm set a $8.50 target price on shares of ChargePoint and gave the company a “neutral” rating in a research report on Friday, December 5th.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $5.97 on Monday. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 8.38. The stock has a fifty day simple moving average of $6.76 and a two-hundred day simple moving average of $9.14. ChargePoint has a 1-year low of $5.53 and a 1-year high of $17.78. The firm has a market cap of $141.12 million, a price-to-earnings ratio of -0.58 and a beta of 1.40.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Thursday, December 4th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.88). The business had revenue of $105.67 million during the quarter, compared to the consensus estimate of $96.51 million. ChargePoint had a negative return on equity of 209.46% and a negative net margin of 59.54%.During the same period last year, the business posted ($1.94) earnings per share. Analysts anticipate that ChargePoint will post -0.57 earnings per share for the current year.

Insider Buying and Selling at ChargePoint

In other news, CFO Mansi Khetani sold 3,943 shares of the firm’s stock in a transaction that occurred 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 approximately $911,237.37. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jagdeep Ca Singh sold 4,832 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $33,775.68. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,670 shares of company stock valued at $88,534 over the last three months. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ChargePoint

Large investors have recently modified their holdings of the stock. Rothschild Investment LLC raised its stake in ChargePoint by 233.3% in the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after buying an additional 3,500 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in ChargePoint during the 3rd quarter valued at approximately $60,000. EFG International AG purchased a new position in shares of ChargePoint in the 4th quarter valued at approximately $72,000. Price T Rowe Associates Inc. MD bought a new stake in shares of ChargePoint during the fourth quarter valued at approximately $125,000. Finally, Bridgeway Capital Management LLC purchased a new stake in ChargePoint in the fourth quarter worth $166,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Company Profile

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.