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

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has earned an average recommendation of "Hold" from the fifteen brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $2.46.

A number of equities research analysts have recently commented on CHPT shares. Royal Bank of Canada cut their target price on ChargePoint from $2.50 to $2.00 and set a "sector perform" rating on the stock in a research note on Thursday, December 5th. Benchmark reissued a "buy" rating and set a $3.00 price objective on shares of ChargePoint in a research report on Wednesday, November 20th. UBS Group decreased their target price on shares of ChargePoint from $1.50 to $1.30 and set a "neutral" rating for the company in a report on Tuesday, December 10th. Needham & Company LLC reiterated a "hold" rating on shares of ChargePoint in a report on Thursday, December 5th. Finally, Stifel Nicolaus decreased their price objective on shares of ChargePoint from $3.00 to $2.00 and set a "hold" rating for the company in a report on Wednesday, October 30th.

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ChargePoint Stock Down 11.8 %

Shares of ChargePoint stock traded down $0.11 during midday trading on Thursday, hitting $0.81. The company had a trading volume of 49,424,185 shares, compared to its average volume of 20,636,020. ChargePoint has a 52-week low of $0.80 and a 52-week high of $2.44. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. The stock has a market capitalization of $359.62 million, a P/E ratio of -1.10 and a beta of 1.70. The company has a 50 day moving average of $1.10 and a 200 day moving average of $1.34.

Insider Buying and Selling

In other news, insider Jagdeep Ca Singh sold 36,574 shares of the 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 $41,694.36. Following the transaction, the insider now owns 1,161,430 shares in the company, valued at $1,324,030.20. This represents a 3.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mansi Khetani sold 22,038 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $25,123.32. Following the sale, the chief financial officer now owns 1,230,305 shares of the company's stock, valued at $1,402,547.70. This trade represents 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 over the last 90 days. Company insiders own 3.50% of the company's stock.

Institutional Trading of ChargePoint

A number of hedge funds and other institutional investors have recently modified their holdings of CHPT. AQR Capital Management LLC purchased a new stake in shares of ChargePoint during the 2nd quarter worth approximately $1,310,000. The Manufacturers Life Insurance Company purchased a new position in ChargePoint during the 2nd quarter valued at $231,000. Algert Global LLC bought a new position in shares of ChargePoint in the second quarter worth about $58,000. Creative Planning grew its stake in ChargePoint by 152.3% in the 2nd quarter. Creative Planning now owns 188,363 shares of the company's stock worth $284,000 after acquiring an additional 113,699 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in ChargePoint during the 2nd quarter worth $138,000. 37.77% of the stock is 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.