ChargePoint (NYSE:CHPT) Lifted to Hold at B. Riley

B. Riley upgraded shares of ChargePoint (NYSE:CHPT) to a hold rating in a research report released on Tuesday, Zacks.com reports.

A number of other brokerages have also recently issued reports on CHPT. Royal Bank of Canada restated a sector perform rating and set a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. The Goldman Sachs Group reaffirmed a sell rating and set a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. Benchmark reissued a buy rating and issued a $4.25 target price on shares of ChargePoint in a research note on Wednesday, March 6th. Oppenheimer restated a market perform rating on shares of ChargePoint in a report on Wednesday, March 6th. Finally, DA Davidson reiterated a buy rating and set a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, ChargePoint presently has an average rating of Hold and a consensus price target of $4.96.

ChargePoint Price Performance

ChargePoint stock opened at $1.53 on Tuesday. The business’s 50-day simple moving average is $1.62 and its 200 day simple moving average is $1.87. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02. The stock has a market cap of $645.62 million, a price-to-earnings ratio of -1.29 and a beta of 1.74. ChargePoint has a 12-month low of $1.21 and a 12-month high of $9.23.

Insider Activity at ChargePoint

In related news, CEO Richard Wilmer sold 27,722 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $38,810.80. Following the transaction, the chief executive officer now directly owns 2,331,740 shares in the company, valued at $3,264,436. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 value of $65,394.00. Following the transaction, the chief accounting officer now owns 438,004 shares in the company, valued at $657,006. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the sale, the chief executive officer now directly owns 2,331,740 shares of the company’s stock, valued at approximately $3,264,436. The disclosure for this sale can be found here. Insiders sold 95,099 shares of company stock worth $137,498 in the last ninety days. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On ChargePoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its stake in shares of ChargePoint by 21.7% in the 3rd quarter. Deutsche Bank AG now owns 100,347 shares of the company’s stock valued at $499,000 after purchasing an additional 17,874 shares in the last quarter. Rhumbline Advisers grew its stake in shares of ChargePoint by 3.7% during the third quarter. Rhumbline Advisers now owns 366,938 shares of the company’s stock worth $1,824,000 after buying an additional 12,993 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of ChargePoint by 160.8% during the third quarter. Kestra Advisory Services LLC now owns 111,982 shares of the company’s stock worth $557,000 after buying an additional 69,044 shares in the last quarter. Invesco Ltd. lifted its stake in shares of ChargePoint by 19.2% in the 3rd quarter. Invesco Ltd. now owns 2,193,049 shares of the company’s stock valued at $10,899,000 after acquiring an additional 353,988 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its holdings in shares of ChargePoint by 47.8% during the 3rd quarter. Dark Forest Capital Management LP now owns 87,074 shares of the company’s stock valued at $433,000 after acquiring an additional 28,149 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors.

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.