Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $2.65

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned a consensus recommendation of “Hold” from the twenty research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $2.61.

Several equities analysts have recently weighed in on CHPT shares. Evercore ISI cut their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Wolfe Research initiated coverage on ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Benchmark reissued a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research report on Thursday, September 5th. Finally, Stifel Nicolaus dropped their target price on ChargePoint from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday.

ChargePoint Price Performance

Shares of CHPT opened at $1.20 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. ChargePoint has a 1 year low of $1.20 and a 1 year high of $3.54. The stock has a market cap of $517.90 million, a P/E ratio of -1.21 and a beta of 1.69. The stock’s 50-day moving average price is $1.43 and its two-hundred day moving average price is $1.62.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The business had revenue of $108.54 million for the quarter, compared to analysts’ expectations of $114.15 million. On average, equities analysts predict that ChargePoint will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Henrik Gerdes sold 26,288 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16. Following the transaction, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at approximately $515,586.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Henrik Gerdes sold 26,288 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16. Following the transaction, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at approximately $515,586.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mansi Khetani sold 23,409 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the completion of the sale, the chief financial officer now owns 849,084 shares of the company’s stock, valued at $1,146,263.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,803 shares of company stock valued at $135,295 in the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Trading of ChargePoint

Several institutional investors have recently added to or reduced their stakes in CHPT. CIBC Asset Management Inc boosted its stake in ChargePoint by 50.7% in the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares during the period. Financial Advocates Investment Management bought a new stake in shares of ChargePoint during the 3rd quarter valued at $29,000. CreativeOne Wealth LLC bought a new stake in shares of ChargePoint during the 1st quarter valued at $30,000. PDS Planning Inc bought a new stake in shares of ChargePoint during the 1st quarter valued at $31,000. Finally, Delap Wealth Advisory LLC bought a new stake in shares of ChargePoint during the 2nd quarter valued at $31,000. 37.77% of the stock is currently owned by institutional investors.

About ChargePoint

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.