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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have been given an average recommendation of "Hold" by the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $4.88.

Several analysts have issued reports on the company. TD Cowen cut their price objective on ChargePoint from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, June 6th. Needham & Company LLC reiterated a "buy" rating and set a $3.00 price target on shares of ChargePoint in a research report on Thursday, June 6th. Benchmark dropped their price target on ChargePoint from $4.25 to $3.00 and set a "buy" rating on the stock in a research report on Friday, June 28th. Finally, B. Riley upgraded ChargePoint to a "hold" rating in a research report on Tuesday, June 25th.

Insider Transactions at ChargePoint

In other news, CAO Henrik Gerdes sold 43,596 shares of the firm's stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the completion of the sale, the chief accounting officer now directly owns 438,004 shares of the company's stock, valued at approximately $657,006. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mansi Khetani sold 19,007 shares of the firm's stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares of the company's stock, valued at $563,490.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Henrik Gerdes sold 43,596 shares of the firm's stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total value of $65,394.00. Following the completion of the sale, the chief accounting officer now directly owns 438,004 shares of the company's stock, valued at approximately $657,006. The disclosure for this sale can be found here. Insiders sold a total of 95,099 shares of company stock valued at $137,498 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of CHPT. Vanguard Group Inc. raised its holdings in ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company's stock valued at $69,708,000 after buying an additional 7,645,210 shares in the last quarter. Norges Bank bought a new position in ChargePoint during the fourth quarter valued at about $9,733,000. AQR Capital Management LLC bought a new position in ChargePoint during the second quarter valued at about $1,310,000. Skandinaviska Enskilda Banken AB publ raised its holdings in ChargePoint by 62.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company's stock valued at $2,452,000 after buying an additional 621,536 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in ChargePoint during the fourth quarter valued at about $1,257,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Stock Up 3.4 %

CHPT traded up $0.06 on Thursday, reaching $1.80. The company's stock had a trading volume of 5,910,053 shares, compared to its average volume of 14,187,481. The stock has a market cap of $762.05 million, a price-to-earnings ratio of -1.53 and a beta of 1.71. ChargePoint has a 1 year low of $1.21 and a 1 year high of $7.57. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.13 and a quick ratio of 1.45. The business's 50 day moving average is $1.80 and its 200 day moving average is $1.80.

ChargePoint (NYSE:CHPT - Get Free Report) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.03. The firm had revenue of $107.04 million during the quarter, compared to the consensus estimate of $106.09 million. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. As a group, research analysts forecast that ChargePoint will post -0.53 EPS for the current fiscal year.

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.