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

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given a consensus rating of “Reduce” by the twelve research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.15.

CHPT has been the topic of a number of analyst reports. UBS Group reiterated a “neutral” rating and issued a $9.00 price target (down previously from $12.00) on shares of ChargePoint in a research report on Monday, December 22nd. B. Riley Financial reduced their target price on ChargePoint from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. The Goldman Sachs Group reissued a “sell” rating and set a $5.00 target price on shares of ChargePoint in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research report on Wednesday, January 21st. Finally, Roth Mkm set a $8.50 price objective on shares of ChargePoint and gave the company a “neutral” rating in a research note on Friday, December 5th.

Insider Transactions at ChargePoint

In other news, insider Jagdeep Ca Singh sold 4,832 shares of ChargePoint stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total value of $33,775.68. Following the completion of the transaction, the insider directly owned 124,627 shares of the company’s stock, valued at approximately $871,142.73. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mansi Khetani sold 3,943 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total value of $27,561.57. Following the sale, the chief financial officer owned 130,363 shares in the company, valued at approximately $911,237.37. The trade was a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 12,670 shares of company stock valued at $88,534. Company insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several hedge funds have recently modified their holdings of CHPT. Goldman Sachs Group Inc. boosted its stake in ChargePoint by 61.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock worth $2,293,000 after acquiring an additional 1,448,114 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of ChargePoint by 6,429.1% in the 1st quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock valued at $1,553,000 after buying an additional 2,638,182 shares during the period. Invesco Ltd. increased its position in ChargePoint by 18.4% in the 2nd quarter. Invesco Ltd. now owns 2,483,139 shares of the company’s stock valued at $1,746,000 after buying an additional 385,258 shares in the last quarter. Soviero Asset Management LP bought a new position in ChargePoint in the second quarter worth approximately $633,000. Finally, XTX Topco Ltd increased its holdings in shares of ChargePoint by 75.5% during the second quarter. XTX Topco Ltd now owns 856,654 shares of the company’s stock valued at $602,000 after acquiring an additional 368,418 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Down 0.1%

NYSE:CHPT opened at $6.17 on Monday. ChargePoint has a one year low of $5.53 and a one year high of $17.78. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93. The company has a market cap of $145.80 million, a PE ratio of -0.60 and a beta of 1.40. The firm’s 50 day simple moving average is $6.65 and its 200 day simple moving average is $9.09.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Thursday, December 4th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.88). ChargePoint had a negative net margin of 59.54% and a negative return on equity of 209.46%. The business had revenue of $105.67 million for the quarter, compared to the consensus estimate of $96.51 million. During the same period in the previous year, the business posted ($1.94) EPS. On average, research analysts anticipate that ChargePoint will post -0.57 earnings per share for the current year.

ChargePoint Company Profile

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.