ChargePoint (NYSE:CHPT) Upgraded by Capital One Financial to Strong-Buy

Capital One Financial upgraded shares of ChargePoint (NYSE:CHPT) to a strong-buy rating in a research report released on Tuesday morning, Zacks.com reports.

CHPT has been the subject of several other reports. Wolfe Research initiated coverage on ChargePoint in a research note on Thursday, September 5th. They set a peer perform rating for the company. B. Riley upgraded ChargePoint to a hold rating in a research note on Tuesday, June 25th. Benchmark reiterated a buy rating and issued a $3.00 target price on shares of ChargePoint in a research note on Thursday, September 5th. TD Cowen lowered ChargePoint from a buy rating to a hold rating and lowered their target price for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group lowered their target price on ChargePoint from $1.50 to $1.25 and set a sell rating for the company in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $3.39.

ChargePoint Stock Down 4.2 %

Shares of NYSE:CHPT opened at $1.37 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. ChargePoint has a 52-week low of $1.21 and a 52-week high of $5.24. The stock’s fifty day simple moving average is $1.79 and its 200-day simple moving average is $1.72. The company has a market capitalization of $580.00 million, a P/E ratio of -1.16 and a beta of 1.70.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CHPT. Sanctuary Advisors LLC bought a new stake in shares of ChargePoint in the 2nd quarter worth approximately $138,000. Point72 Asset Management L.P. bought a new stake in shares of ChargePoint in the 2nd quarter worth approximately $13,007,000. Creative Planning lifted its holdings in shares of ChargePoint by 152.3% in the 2nd quarter. Creative Planning now owns 188,363 shares of the company’s stock worth $284,000 after purchasing an additional 113,699 shares during the last quarter. Algert Global LLC bought a new stake in shares of ChargePoint in the 2nd quarter worth approximately $58,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of ChargePoint in the 2nd quarter worth approximately $231,000. Institutional investors own 37.77% of the company’s stock.

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.