ChargePoint (NYSE:CHPT) Given New $0.65 Price Target at UBS Group

ChargePoint (NYSE:CHPT) had its price objective lowered by UBS Group from $0.70 to $0.65 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

CHPT has been the topic of a number of other research reports. The Goldman Sachs Group cut their price target on shares of ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Evercore ISI lowered ChargePoint from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $4.00 to $1.00 in a report on Monday, March 31st. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus decreased their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $1.52.

ChargePoint Trading Down 1.2 %

NYSE:CHPT opened at $0.56 on Thursday. The firm has a 50 day moving average of $0.66 and a 200 day moving average of $1.00. The stock has a market capitalization of $258.43 million, a price-to-earnings ratio of -0.76 and a beta of 2.05. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. ChargePoint has a 52 week low of $0.51 and a 52 week high of $2.44.

ChargePoint (NYSE:CHPT) last announced its earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 72.62% and a negative return on equity of 106.28%. As a group, sell-side analysts anticipate that ChargePoint will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of ChargePoint

A number of hedge funds have recently added to or reduced their stakes in CHPT. Perennial Advisors LLC purchased a new stake in shares of ChargePoint during the 4th quarter worth about $26,000. 111 Capital acquired a new position in shares of ChargePoint during the 4th quarter worth approximately $26,000. Brevan Howard Capital Management LP acquired a new stake in ChargePoint in the 4th quarter valued at $27,000. Cibc World Markets Corp acquired a new position in ChargePoint during the fourth quarter worth $40,000. Finally, Callan Family Office LLC acquired 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.