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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have been assigned an average rating of "Hold" from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $2.46.

A number of research firms have issued reports on CHPT. UBS Group lowered their price target on ChargePoint from $1.50 to $1.30 and set a "neutral" rating for the company in a research report on Tuesday, December 10th. Benchmark reiterated a "buy" rating and set a $3.00 target price on shares of ChargePoint in a report on Wednesday, November 20th. JPMorgan Chase & Co. downgraded shares of ChargePoint from an "overweight" rating to an "underweight" rating in a research report on Thursday, October 3rd. Stifel Nicolaus reduced their price target on shares of ChargePoint from $3.00 to $2.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada dropped their price objective on shares of ChargePoint from $2.50 to $2.00 and set a "sector perform" rating for the company in a research report on Thursday, December 5th.

ChargePoint Stock Performance

Shares of CHPT remained flat at $1.16 during mid-day trading on Wednesday. 32,916,488 shares of the company's stock were exchanged, compared to its average volume of 13,822,242. ChargePoint has a 52 week low of $1.05 and a 52 week high of $2.78. The company's fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $1.53. The firm has a market capitalization of $513.12 million, a PE ratio of -1.57 and a beta of 1.69. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94.

Insider Activity at ChargePoint

In other news, CEO Richard Wilmer sold 27,252 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $36,790.20. Following the sale, the chief executive officer now owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the completion of the transaction, the chief financial officer now owns 849,084 shares of the company's stock, valued at $1,146,263.40. This trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,803 shares of company stock valued at $135,295 over the last ninety days. Corporate insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in shares of ChargePoint by 50.7% in the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company's stock worth $26,000 after purchasing an additional 5,770 shares during the last quarter. Financial Advocates Investment Management bought a new stake in ChargePoint in the third quarter valued at $29,000. Delap Wealth Advisory LLC acquired a new position in shares of ChargePoint during the second quarter valued at $31,000. Perennial Investment Advisors LLC grew its position in shares of ChargePoint by 74.4% during the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company's stock worth $37,000 after acquiring an additional 10,400 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of ChargePoint by 152.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company's stock worth $38,000 after acquiring an additional 15,358 shares during the period. 37.77% of the stock is owned by institutional investors and hedge funds.

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.