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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been given an average rating of “Hold” by the twelve brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $2.13.

A number of equities analysts have issued reports on CHPT shares. The Goldman Sachs Group cut their target price on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Royal Bank of Canada cut their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. UBS Group cut their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Finally, Benchmark restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th.

Insider Activity

In related news, insider Jagdeep Ca Singh sold 36,574 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $41,694.36. Following the completion of the sale, the insider now directly owns 1,161,430 shares in the company, valued at approximately $1,324,030.20. The trade was a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Henrik Gerdes sold 28,536 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. The trade was a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,148 shares of company stock valued at $99,349 over the last 90 days. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

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

ChargePoint Stock Up 5.3 %

Shares of NYSE CHPT opened at $0.74 on Monday. 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 $0.56 and a 52 week high of $2.44. The firm has a 50-day moving average price of $0.91 and a 200 day moving average price of $1.18. The stock has a market capitalization of $325.12 million, a price-to-earnings ratio of -0.99 and a beta of 1.85.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. The company had revenue of $101.89 million during the quarter, compared to analyst estimates of $100.99 million. Equities research analysts anticipate that ChargePoint will post -0.57 EPS for the current fiscal 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.