ChargePoint Holdings, Inc. (NYSE:CHPT) Given Average Recommendation of “Reduce” by Analysts

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned an average rating of “Reduce” from the ten research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $8.3125.

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $6.50 price objective on shares of ChargePoint in a report on Thursday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Thursday, June 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a report on Monday, April 20th. Wall Street Zen upgraded ChargePoint from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, UBS Group reaffirmed a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of ChargePoint in a report on Tuesday, June 23rd.

Insiders Place Their Bets

In other ChargePoint news, insider John David Vice sold 4,072 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $7.13, for a total value of $29,033.36. Following the completion of the transaction, the insider owned 171,507 shares of the company’s stock, valued at approximately $1,222,844.91. The trade was a 2.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jagdeep Ca Singh sold 9,719 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $7.14, for a total transaction of $69,393.66. Following the transaction, the insider owned 187,846 shares in the company, valued at $1,341,220.44. This represents a 4.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 29,164 shares of company stock worth $208,037 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC raised its position in ChargePoint by 233.3% in the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after acquiring an additional 3,500 shares during the period. Pilgrim Partners Asia Pte Ltd lifted its position in shares of ChargePoint by 56.4% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock valued at $57,000 after buying an additional 3,100 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of ChargePoint in the fourth quarter worth approximately $73,000. EFG International AG bought a new position in ChargePoint in the 4th quarter worth $72,000. Finally, R Squared Ltd bought a new position in ChargePoint in the 1st quarter worth $59,000. 37.77% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Stock Down 7.4%

NYSE:CHPT opened at $5.83 on Thursday. The firm has a market cap of $142.47 million, a P/E ratio of -0.67 and a beta of 1.72. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.56 and a current ratio of 1.15. ChargePoint has a fifty-two week low of $4.44 and a fifty-two week high of $13.89. The firm has a 50-day simple moving average of $6.73 and a two-hundred day simple moving average of $6.33.

ChargePoint (NYSE:CHPT) last issued its earnings results on Wednesday, June 3rd. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.64). ChargePoint had a negative return on equity of 504.42% and a negative net margin of 49.66%.The firm had revenue of $101.82 million during the quarter, compared to the consensus estimate of $95.64 million. Analysts predict that ChargePoint will post -5.48 earnings per share for the current fiscal year.

About ChargePoint

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.