ChargePoint (NYSE:CHPT) Lowered to In-Line Rating by Evercore ISI

ChargePoint (NYSE:CHPT - Get Free Report) was downgraded by research analysts at Evercore ISI from an "outperform" rating to an "in-line" rating in a research report issued on Monday, Marketbeat.com reports. They presently have a $1.00 price target on the stock, down from their prior price target of $4.00. Evercore ISI's price objective suggests a potential upside of 80.18% from the company's previous close.

CHPT has been the subject of several other research reports. UBS Group set a $1.50 price target on ChargePoint in a research note on Wednesday, March 5th. Royal Bank of Canada decreased their target price 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. Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a report on Wednesday, March 5th. Stifel Nicolaus decreased their price objective on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a report on Monday, March 10th. Finally, The Goldman Sachs Group lowered 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $1.66.

ChargePoint Stock Down 2.6 %

ChargePoint stock traded down $0.02 during trading hours on Monday, hitting $0.56. The company had a trading volume of 10,742,807 shares, compared to its average volume of 17,108,693. ChargePoint has a fifty-two week low of $0.51 and a fifty-two week high of $2.44. 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 has a market capitalization of $245.50 million, a P/E ratio of -0.75 and a beta of 1.85. The firm's fifty day moving average is $0.75 and its 200-day moving average is $1.06.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings results 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). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The company had revenue of $101.89 million during the quarter, compared to analyst estimates of $100.99 million. On average, research analysts forecast that ChargePoint will post -0.57 earnings per share for the current year.

Institutional Trading of ChargePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of ChargePoint by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company's stock valued at $243,000 after acquiring an additional 9,519 shares during the period. Jeppson Wealth Management LLC raised its stake in ChargePoint by 32.8% during the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company's stock valued at $61,000 after purchasing an additional 14,085 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in ChargePoint by 61.1% in the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock valued at $48,000 after purchasing an additional 17,075 shares during the period. Swiss National Bank increased its holdings in shares of ChargePoint by 2.2% during the 4th quarter. Swiss National Bank now owns 806,400 shares of the company's stock worth $863,000 after purchasing an additional 17,600 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of ChargePoint by 131.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company's stock valued at $50,000 after buying an additional 20,773 shares during the last quarter. Institutional investors and hedge funds 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.