UBS Group Lowers ChargePoint (NYSE:CHPT) Price Target to $7.00

ChargePoint (NYSE:CHPT) had its price objective dropped by stock analysts at UBS Group from $9.00 to $7.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 29.18% from the stock’s current price.

Other analysts have also recently issued reports about the stock. B. Riley Financial reduced their price objective on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday. Roth Mkm set a $8.50 target price on shares of ChargePoint and gave the stock a “neutral” rating in a report on Friday, December 5th. Royal Bank Of Canada cut their price target on ChargePoint from $9.00 to $6.50 and set a “sector perform” rating for the company in a research note on Thursday, March 5th. The Goldman Sachs Group reissued a “sell” rating and set a $5.00 price target on shares of ChargePoint in a report on Thursday, January 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, ChargePoint currently has an average rating of “Reduce” and a consensus price target of $9.89.

ChargePoint Stock Performance

NYSE CHPT traded up $0.08 on Monday, reaching $5.42. 523,422 shares of the stock were exchanged, compared to its average volume of 496,021. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 8.38. ChargePoint has a one year low of $5.23 and a one year high of $17.78. The firm has a market capitalization of $128.16 million, a PE ratio of -0.58 and a beta of 1.40. The company’s 50-day simple moving average is $6.31 and its two-hundred day simple moving average is $8.50.

Insider Buying and Selling at ChargePoint

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

Institutional Investors Weigh In On ChargePoint

Several large investors have recently made changes to their positions in the company. Rothschild Investment LLC lifted its position in shares of ChargePoint by 233.3% in the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after buying an additional 3,500 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in ChargePoint in the 3rd quarter worth approximately $60,000. EFG International AG bought a new stake in ChargePoint in the 4th quarter worth approximately $72,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of ChargePoint during the 4th quarter worth approximately $125,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of ChargePoint during the 4th quarter valued at approximately $166,000. 37.77% of the stock is owned by institutional investors.

About ChargePoint

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.