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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned a consensus rating of “Reduce” from the ten ratings firms that are covering the company, MarketBeat.com reports. Three investment 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 objective among brokers that have issued ratings on the stock in the last year is $8.1875.

CHPT has been the topic of a number of analyst reports. B. Riley Financial lowered their target price on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $6.50 price objective on shares of ChargePoint in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of ChargePoint from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. JPMorgan Chase & Co. decreased their price objective on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Thursday, June 4th.

Insider Buying and Selling

In other news, CEO Richard Wilmer acquired 46,847 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was purchased at an average price of $5.34 per share, for a total transaction of $250,162.98. Following the purchase, the chief executive officer owned 511,224 shares in the company, valued at approximately $2,729,936.16. This represents a 10.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 8,685 shares of company stock valued at $46,031. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its stake in ChargePoint by 233.3% in the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after buying an additional 3,500 shares during the last quarter. Pilgrim Partners Asia Pte Ltd increased its stake in ChargePoint by 56.4% in 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 during the last quarter. Hsbc Holdings PLC purchased a new stake in ChargePoint in the 4th quarter valued at about $73,000. EFG International AG purchased a new stake in ChargePoint in the 4th quarter valued at about $72,000. Finally, R Squared Ltd purchased a new stake in ChargePoint in the 1st quarter valued at about $59,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Trading Down 0.2%

CHPT opened at $8.29 on Friday. The company has a debt-to-equity ratio of 10.73, a current ratio of 1.15 and a quick ratio of 0.56. ChargePoint has a fifty-two week low of $4.44 and a fifty-two week high of $16.20. The firm has a market capitalization of $202.54 million, a PE ratio of -0.96 and a beta of 1.74. The company’s 50-day moving average is $6.83 and its 200 day moving average is $6.60.

ChargePoint (NYSE:CHPT) last posted its earnings results on Wednesday, June 3rd. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $101.82 million during the quarter, compared to analyst estimates of $95.64 million. As a group, research 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.