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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have earned an average recommendation of "Hold" from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $2.13.

A number of equities analysts have commented on CHPT shares. UBS Group cut their price target on shares of ChargePoint from $1.50 to $1.30 and set a "neutral" rating for the company in a research note on Tuesday, December 10th. Royal Bank of Canada cut their target price on ChargePoint from $2.50 to $2.00 and set a "sector perform" rating for the company in a research note on Thursday, December 5th. Needham & Company LLC reiterated a "hold" rating on shares of ChargePoint in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group decreased their target price on shares of ChargePoint from $1.00 to $0.75 and set a "sell" rating on the stock in a research report on Thursday, February 20th.

ChargePoint Price Performance

Shares of CHPT stock traded down $0.02 during trading hours on Monday, reaching $0.70. The stock had a trading volume of 10,227,548 shares, compared to its average volume of 29,259,744. The stock's fifty day simple moving average is $0.92 and its 200 day simple moving average is $1.20. The firm has a market capitalization of $310.52 million, a PE ratio of -0.95 and a beta of 1.85. ChargePoint has a 12 month low of $0.56 and a 12 month high of $2.44. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

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

Insider Buying and Selling at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 28,536 shares of the company's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $32,531.04. Following the completion of the transaction, the chief accounting officer now directly owns 362,060 shares in the company, valued at approximately $412,748.40. This represents a 7.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $25,123.32. Following the sale, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,148 shares of company stock valued at $99,349 in the last 90 days. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On ChargePoint

Several hedge funds have recently bought and sold shares of CHPT. Toronto Dominion Bank purchased a new position in shares of ChargePoint during the fourth quarter valued at approximately $8,746,000. Millennium Management LLC raised its stake in ChargePoint by 13,605.0% during the fourth quarter. Millennium Management LLC now owns 2,857,349 shares of the company's stock valued at $3,057,000 after buying an additional 2,836,500 shares during the last quarter. Erste Asset Management GmbH purchased a new position in ChargePoint during the third quarter valued at $2,570,000. Invesco Ltd. boosted its holdings in ChargePoint by 13.1% in the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company's stock worth $5,382,000 after acquiring an additional 583,761 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of ChargePoint by 4.6% during the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company's stock valued at $12,432,000 after acquiring an additional 399,070 shares in the last quarter. Institutional investors own 37.77% of the company's stock.

About ChargePoint

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.