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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have received an average recommendation of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $2.46.

Several research analysts have recently weighed in on CHPT shares. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. UBS Group lowered their price target on ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. JPMorgan Chase & Co. downgraded ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Finally, Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th.

Insider Activity

In related news, CAO Henrik Gerdes sold 26,288 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16. Following the completion of the transaction, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at approximately $515,586.72. This represents a 6.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $25,123.32. Following the completion of the sale, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,436 shares of company stock worth $134,049 in the last three months. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of ChargePoint by 41.4% during the 2nd quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock valued at $39,000 after buying an additional 7,723 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of ChargePoint by 32.2% in the 2nd quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock valued at $51,000 after acquiring an additional 8,297 shares during the last quarter. Jeppson Wealth Management LLC grew its position in ChargePoint by 28.3% in the third quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock worth $59,000 after acquiring an additional 9,480 shares in the last quarter. Finally, Perennial Investment Advisors LLC increased its stake in ChargePoint by 74.4% during the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after acquiring an additional 10,400 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $1.16 on Wednesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.32 and a current ratio of 1.94. The firm has a market cap of $513.12 million, a price-to-earnings ratio of -1.57 and a beta of 1.69. The business has a 50-day simple moving average of $1.22 and a two-hundred day simple moving average of $1.51. ChargePoint has a fifty-two week low of $1.05 and a fifty-two week high of $2.68.

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.