ChargePoint Holdings, Inc. (NYSE:CHPT) Stock Has Average Target Price of $7.07 According to Analysts

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

Several equities research analysts recently issued reports on the stock. UBS Group reaffirmed a “neutral” rating and set a $9.00 price target (up from $8.00) on shares of ChargePoint in a research note on Tuesday, September 22nd. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Thursday, September 3rd. TD Cowen restated a “hold” rating on shares of ChargePoint in a research note on Thursday, September 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research report on Thursday, September 3rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research note on Friday, July 17th.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, General Counsel Eric Batill sold 4,302 shares of ChargePoint stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $9.86, for a total transaction of $42,417.72. Following the sale, the general counsel directly owned 139,329 shares in the company, valued at $1,373,783.94. The trade was a 3.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jagdeep Singh sold 5,965 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $9.86, for a total value of $58,814.90. Following the completion of the transaction, the insider directly owned 182,381 shares in the company, valued at approximately $1,798,276.66. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 16,682 shares of company stock worth $164,485 in the last 90 days. 4.20% of the stock is owned by corporate insiders.

Institutional Trading of ChargePoint

A number of hedge funds and other institutional investors have recently made changes to their positions in CHPT. Renaissance Technologies LLC boosted its stake in ChargePoint by 77.7% during the 1st quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock valued at $700,000 after acquiring an additional 63,000 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of ChargePoint in the 2nd quarter worth about $344,000. Squarepoint Ops LLC increased its position in shares of ChargePoint by 70.8% in the 2nd quarter. Squarepoint Ops LLC now owns 25,242 shares of the company’s stock worth $149,000 after purchasing an additional 10,464 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of ChargePoint by 40.0% in the 1st quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock valued at $75,000 after purchasing an additional 4,352 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of ChargePoint in the 1st quarter valued at about $59,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Down 4.1%

Shares of NYSE:CHPT opened at $8.90 on Tuesday. The company has a market capitalization of $239.10 million, a price-to-earnings ratio of -1.24 and a beta of 1.70. The company has a 50 day moving average of $7.44 and a two-hundred day moving average of $6.67. ChargePoint has a 52-week low of $4.44 and a 52-week high of $12.61. The company has a quick ratio of 0.57, a current ratio of 1.07 and a debt-to-equity ratio of 10.73.

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

ChargePoint Company Profile

ChargePoint Holdings, Inc (NYSE:CHPT) develops and operates electric vehicle charging infrastructure and related software. Its offerings include charging stations, cloud-based management tools, mobile applications and connected services that help drivers locate, access and pay for charging, while enabling businesses and other organizations to manage charging operations.

The company serves a range of customers, including commercial and fleet operators, workplaces, multifamily properties, retailers, parking facilities, utilities and public-sector organizations.