ChargePoint Holdings, Inc. (NYSE:CHPT) Given Average Rating of “Hold” by Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned an average rating of “Hold” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.46.

Several research firms have recently issued reports on CHPT. The Goldman Sachs Group restated a “sell” rating and set a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a report on Thursday, April 4th. DA Davidson restated a “buy” rating and set a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. Oppenheimer restated a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. Finally, R. F. Lafferty cut their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th.

Insider Activity

In other news, CEO Richard Wilmer sold 25,376 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the transaction, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Michael Linse sold 100,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the completion of the transaction, the director now directly owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Wilmer sold 25,376 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the transaction, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The disclosure for this sale can be found here. Insiders have sold 154,846 shares of company stock worth $296,562 in the last quarter. Corporate insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CHPT. Balentine LLC acquired a new position in ChargePoint in the 4th quarter valued at $26,000. RWA Wealth Partners LLC acquired a new stake in shares of ChargePoint in the 4th quarter worth $31,000. PDS Planning Inc acquired a new stake in shares of ChargePoint in the 1st quarter worth $31,000. Ingalls & Snyder LLC acquired a new stake in shares of ChargePoint in the 4th quarter worth $33,000. Finally, Sigma Planning Corp acquired a new stake in shares of ChargePoint in the 4th quarter worth $33,000. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Stock Performance

Shares of ChargePoint stock opened at $1.79 on Tuesday. The company has a market capitalization of $748.27 million, a PE ratio of -1.44 and a beta of 1.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.25. The company has a 50-day simple moving average of $1.71 and a two-hundred day simple moving average of $2.08. ChargePoint has a one year low of $1.21 and a one year high of $10.10.

ChargePoint (NYSE:CHPT) last announced its earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $115.83 million during the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. Research analysts expect that ChargePoint will post -0.63 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.