ChargePoint Holdings, Inc. (NYSE:CHPT) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned an average recommendation of “Reduce” from the ten research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $8.6250.

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ChargePoint in a research note on Monday, April 20th. JPMorgan Chase & Co. cut their price target on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, March 5th. B. Riley Financial cut their price target on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. UBS Group cut their price target on shares of ChargePoint from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Finally, Wall Street Zen raised shares of ChargePoint from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th.

ChargePoint Stock Performance

Shares of CHPT opened at $7.58 on Wednesday. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.64 and a current ratio of 1.20. ChargePoint has a twelve month low of $4.44 and a twelve month high of $17.78. The firm’s 50 day moving average price is $6.09 and its two-hundred day moving average price is $6.69. The firm has a market cap of $179.29 million, a P/E ratio of -0.81 and a beta of 1.74.

Insider Activity at ChargePoint

In other ChargePoint news, CEO Richard Wilmer acquired 46,847 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were acquired at an average price of $5.34 per share, with a total value of $250,162.98. Following the completion of the transaction, the chief executive officer directly owned 511,224 shares in the company, valued at $2,729,936.16. This trade represents a 10.09% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 8,685 shares of company stock valued at $46,031 over the last 90 days. Insiders own 4.20% of the company’s stock.

Institutional Trading of ChargePoint

A number of institutional investors have recently made changes to their positions in CHPT. Focus Partners Wealth bought a new stake in shares of ChargePoint in the first quarter worth $27,000. Rothschild Investment LLC lifted its position in shares of 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 purchasing an additional 3,500 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of ChargePoint by 57.1% in the second quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock worth $47,000 after purchasing an additional 24,470 shares in the last quarter. Pilgrim Partners Asia Pte Ltd lifted its position in shares of ChargePoint by 56.4% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after purchasing an additional 3,100 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of ChargePoint in the first quarter worth $59,000. 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.