ChargePoint's (CHPT) "Hold" Rating Reiterated at Needham & Company LLC

ChargePoint (NYSE:CHPT - Get Free Report)'s stock had its "hold" rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

Several other research firms also recently commented on CHPT. Royal Bank of Canada lowered their target price on shares of ChargePoint from $2.50 to $2.00 and set a "sector perform" rating on the stock in a report on Thursday, December 5th. Benchmark restated a "buy" rating and issued a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. UBS Group reduced their price target on shares of ChargePoint from $1.50 to $1.30 and set a "neutral" rating on the stock in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group reduced their price target 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 equities research 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 to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $2.13.

ChargePoint Price Performance

Shares of CHPT stock traded up $0.04 during mid-day trading on Wednesday, hitting $0.74. The company had a trading volume of 22,701,144 shares, compared to its average volume of 29,111,520. ChargePoint has a 52-week low of $0.56 and a 52-week high of $2.44. The stock's 50 day moving average price is $0.91 and its 200-day moving average price is $1.19. 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 company has a market capitalization of $325.12 million, a P/E ratio of -0.99 and a beta of 1.85.

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ChargePoint (NYSE:CHPT - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $100.99 million. Equities research analysts forecast that ChargePoint will post -0.57 earnings per share for the current year.

Insider Buying and Selling at ChargePoint

In other news, CFO Mansi Khetani sold 22,038 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $25,123.32. Following the transaction, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jagdeep Ca Singh sold 36,574 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the completion of the transaction, the insider now owns 1,161,430 shares in the company, 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 have sold 87,148 shares of company stock worth $99,349 over the last quarter. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jeppson Wealth Management LLC grew its holdings in shares of ChargePoint by 28.3% in the third quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company's stock worth $59,000 after purchasing an additional 9,480 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in ChargePoint by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company's stock worth $243,000 after acquiring an additional 9,519 shares during the period. Creative Planning lifted its stake in ChargePoint by 8.8% in the third quarter. Creative Planning now owns 205,008 shares of the company's stock worth $281,000 after acquiring an additional 16,645 shares during the period. Jones Financial Companies Lllp lifted its stake in ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock worth $48,000 after acquiring an additional 17,075 shares during the period. Finally, Swiss National Bank lifted its stake in ChargePoint by 2.2% in the fourth quarter. Swiss National Bank now owns 806,400 shares of the company's stock worth $863,000 after acquiring an additional 17,600 shares during the period. 37.77% of the stock is currently owned by 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.