ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Average Rating of “Hold” from Analysts

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

CHPT has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Wednesday, November 20th. UBS Group reduced their price objective on shares of 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 restated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. The Goldman Sachs Group reduced their price objective on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a report on Thursday, February 20th. Finally, Royal Bank of Canada reduced their price objective on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th.

ChargePoint Price Performance

ChargePoint stock opened at $0.74 on Monday. The firm has a market cap of $325.12 million, a PE ratio of -0.99 and a beta of 1.85. ChargePoint has a 52-week low of $0.56 and a 52-week high of $2.44. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The company’s 50 day moving average is $0.91 and its two-hundred day moving average is $1.18.

ChargePoint (NYSE:CHPT) last released its 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). The business had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. On average, research analysts expect that ChargePoint will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling

In other ChargePoint news, CAO Henrik Gerdes sold 28,536 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $32,531.04. Following the transaction, the chief accounting officer now directly owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mansi Khetani sold 22,038 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the transaction, the chief financial officer now directly owns 1,230,305 shares in the company, valued at $1,402,547.70. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,148 shares of company stock worth $99,349 in the last ninety days. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Perennial Advisors LLC purchased a new stake in shares of ChargePoint in the fourth quarter valued at about $26,000. Brevan Howard Capital Management LP purchased a new stake in shares of ChargePoint in the fourth quarter valued at about $27,000. Financial Advocates Investment Management purchased a new stake in shares of ChargePoint in the third quarter valued at about $29,000. Cibc World Markets Corp purchased a new stake in shares of ChargePoint in the fourth quarter valued at about $40,000. Finally, Callan Family Office LLC purchased a new stake in shares of ChargePoint in the fourth quarter valued at about $45,000. 37.77% of the stock is owned by hedge funds and other institutional investors.

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.