Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) PT at $2.41

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.13.

CHPT has been the subject of several recent research reports. The Goldman Sachs Group reduced their target price on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a report on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Wednesday, November 20th. Royal Bank of Canada reduced their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a report on Thursday, December 5th. UBS Group reduced their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Wednesday.

Insider Buying and Selling at ChargePoint

In other news, CFO Mansi Khetani sold 22,038 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the sale, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at $1,402,547.70. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jagdeep Ca Singh sold 36,574 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the sale, the insider now directly owns 1,161,430 shares of the company’s stock, valued at $1,324,030.20. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,148 shares of company stock valued at $99,349. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Institutional investors and hedge funds have recently modified their holdings of the stock. Perennial Advisors LLC purchased a new stake in shares of ChargePoint during the fourth quarter worth about $26,000. Brevan Howard Capital Management LP purchased a new stake in ChargePoint during the 4th quarter valued at about $27,000. Financial Advocates Investment Management purchased a new stake in ChargePoint during the 3rd quarter valued at about $29,000. Cibc World Markets Corp purchased a new stake in ChargePoint during the 4th quarter valued at about $40,000. Finally, Callan Family Office LLC purchased a new stake in ChargePoint during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Trading Up 5.3 %

NYSE CHPT opened at $0.74 on Monday. The company has a fifty day simple moving average of $0.92 and a two-hundred day simple moving average of $1.20. The stock has a market cap of $325.12 million, a P/E ratio of -0.99 and a beta of 1.85. ChargePoint has a 12-month low of $0.56 and a 12-month high of $2.44. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The company had revenue of $101.89 million during the quarter, compared to analysts’ expectations of $100.99 million. On average, analysts forecast that ChargePoint will post -0.57 earnings per share for the current 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.