ChargePoint Holdings, Inc. (NYSE:CHPT) Given Average Rating of "Hold" by Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has been assigned an average rating of "Hold" from the twelve brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $1.66.

Several research analysts have issued reports on CHPT shares. UBS Group set a $1.50 target price on ChargePoint in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a research report on Wednesday, March 5th. Stifel Nicolaus decreased their target price on ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a research report on Monday, March 10th. Evercore ISI cut shares of ChargePoint from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $4.00 to $1.00 in a report on Monday. Finally, Royal Bank of Canada decreased their price objective on shares of ChargePoint from $2.50 to $2.00 and set a "sector perform" rating for the company in a report on Thursday, December 5th.

ChargePoint Trading Down 8.1 %

Shares of ChargePoint stock traded down $0.05 on Friday, reaching $0.57. The company had a trading volume of 20,351,284 shares, compared to its average volume of 17,131,619. The firm has a market cap of $253.46 million, a price-to-earnings ratio of -0.77 and a beta of 1.85. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. The firm's 50-day moving average price is $0.75 and its two-hundred day moving average price is $1.06. ChargePoint has a 1 year low of $0.56 and a 1 year high of $2.44.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). The firm had revenue of $101.89 million for the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. As a group, research analysts predict that ChargePoint will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Perennial Advisors LLC bought a new stake in ChargePoint during the fourth quarter valued at about $26,000. 111 Capital purchased a new position in shares of ChargePoint in the 4th quarter worth approximately $26,000. Brevan Howard Capital Management LP bought a new position in shares of ChargePoint during the 4th quarter worth approximately $27,000. Cibc World Markets Corp purchased a new stake in ChargePoint during the fourth quarter valued at approximately $40,000. Finally, Callan Family Office LLC acquired a new stake in ChargePoint in the fourth quarter valued at approximately $45,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Company Profile

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.