Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) PT at $4.88

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned an average recommendation of “Hold” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $4.88.

A number of research firms have issued reports on CHPT. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Thursday, June 6th. B. Riley upgraded shares of ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group restated a “sell” rating and set a $1.50 price objective (down from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. TD Cowen cut their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Finally, Benchmark cut their price objective on shares of ChargePoint from $4.25 to $3.00 and set a “buy” rating on the stock in a research note on Friday, June 28th.

Insider Buying and Selling

In related news, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction dated 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 of the company’s stock, valued at approximately $657,006. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Mansi Khetani sold 19,007 shares of ChargePoint stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the transaction, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $1.50, for a total value of $65,394.00. Following the completion of the transaction, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,099 shares of company stock valued at $137,498. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in ChargePoint by 26.3% during the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after acquiring an additional 7,645,210 shares in the last quarter. Norges Bank purchased a new position in ChargePoint during the 4th quarter valued at about $9,733,000. Wellington Management Group LLP grew its stake in ChargePoint by 418.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after acquiring an additional 2,035,496 shares in the last quarter. Bank of New York Mellon Corp grew its stake in ChargePoint by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after acquiring an additional 487,262 shares in the last quarter. Finally, Swiss National Bank grew its stake in ChargePoint by 23.2% during the 1st quarter. Swiss National Bank now owns 742,900 shares of the company’s stock valued at $1,412,000 after acquiring an additional 139,700 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Up 7.9 %

Shares of CHPT opened at $2.19 on Friday. The business’s fifty day moving average price is $1.77 and its 200 day moving average price is $1.80. ChargePoint has a 12-month low of $1.21 and a 12-month high of $8.68. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13.

ChargePoint (NYSE:CHPT) last posted its earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $107.04 million for the quarter, compared to analysts’ expectations of $106.09 million. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. Research analysts anticipate that ChargePoint will post -0.53 earnings per share 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.