ChargePoint (NYSE:CHPT) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of ChargePoint (NYSE:CHPT) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a peer perform rating on the stock.

Several other equities analysts have also recently issued reports on CHPT. B. Riley upgraded ChargePoint to a hold rating in a research report on Tuesday, June 25th. TD Cowen lowered ChargePoint from a buy rating to a hold rating and lowered their target price for the stock from $3.00 to $2.00 in a report on Thursday. Evercore ISI cut their price target on shares of ChargePoint from $6.00 to $4.00 and set an outperform rating for the company in a report on Thursday. Benchmark lowered 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. Finally, Needham & Company LLC dropped their target price on shares of ChargePoint from $3.00 to $2.00 and set a buy rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, ChargePoint has a consensus rating of Hold and an average price target of $3.90.

ChargePoint Stock Down 5.8 %

ChargePoint stock opened at $1.31 on Thursday. The company’s 50-day moving average price is $1.86 and its two-hundred day moving average price is $1.76. The stock has a market cap of $554.60 million, a price-to-earnings ratio of -1.11 and a beta of 1.70. ChargePoint has a 52 week low of $1.21 and a 52 week high of $6.33. The company has a current ratio of 2.13, a quick ratio of 1.45 and a debt-to-equity ratio of 1.02.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Wednesday, June 5th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $107.04 million for the quarter, compared to analyst estimates of $106.09 million. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 104.05%. On average, analysts expect that ChargePoint will post -0.53 EPS for the current fiscal year.

Insider Activity at ChargePoint

In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at approximately $3,264,436. The sale 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 stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the completion of the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at $657,006. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard Wilmer sold 27,722 shares of the business’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 completion of the transaction, the chief executive officer now owns 2,331,740 shares in the company, valued at approximately $3,264,436. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,099 shares of company stock valued at $137,498. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently made changes to their positions in the company. Balentine LLC acquired a new position in ChargePoint in the fourth quarter worth approximately $26,000. CIBC Asset Management Inc grew its position in ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after acquiring an additional 5,770 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of ChargePoint during the 1st quarter worth $30,000. PDS Planning Inc bought a new position in shares of ChargePoint during the 1st quarter valued at $31,000. Finally, Delap Wealth Advisory LLC bought a new position in shares of ChargePoint during the 2nd quarter valued at $31,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

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.