Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $2.46

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has earned a consensus recommendation of "Hold" from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $2.46.

CHPT has been the subject of several analyst reports. Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a report on Thursday, December 5th. Benchmark reissued a "buy" rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered ChargePoint from an "overweight" rating to an "underweight" rating in a research report on Thursday, October 3rd. UBS Group reduced their price target on ChargePoint from $1.50 to $1.30 and set a "neutral" rating on the stock in a report on Tuesday, December 10th. Finally, Capital One Financial upgraded ChargePoint to a "strong-buy" rating in a report on Tuesday, September 17th.

ChargePoint Trading Down 1.8 %

NYSE:CHPT traded down $0.02 during midday trading on Friday, hitting $1.10. 18,825,104 shares of the company traded hands, compared to its average volume of 24,969,695. The firm has a market capitalization of $486.58 million, a P/E ratio of -1.49 and a beta of 1.70. The firm's fifty day moving average is $1.18 and its 200-day moving average is $1.47. ChargePoint has a 12-month low of $1.05 and a 12-month high of $2.44. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65.

Insider Activity at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value 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. The trade was a 1.76 % decrease in their ownership of the stock. The transaction 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 stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $41,694.36. Following the sale, the insider now directly owns 1,161,430 shares of the company's stock, valued at approximately $1,324,030.20. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,148 shares of company stock worth $99,349 over the last three months. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Delap Wealth Advisory LLC purchased a new position in ChargePoint in the second quarter worth $31,000. Financial Advocates Investment Management acquired a new stake in shares of ChargePoint in the 3rd quarter worth $29,000. Perennial Investment Advisors LLC grew its stake in ChargePoint by 74.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company's stock worth $37,000 after buying an additional 10,400 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in ChargePoint by 152.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company's stock valued at $38,000 after buying an additional 15,358 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in ChargePoint by 41.4% in the second quarter. Hsbc Holdings PLC now owns 26,397 shares of the company's stock valued at $39,000 after buying an additional 7,723 shares during the last quarter. Institutional investors own 37.77% of the company's stock.

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.