ChargePoint Holdings, Inc. (NYSE:CHPT) Given Average Recommendation of “Reduce” by Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been given a consensus rating of “Reduce” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $12.15.

Several brokerages recently issued reports on CHPT. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $9.00 price objective (down previously from $10.00) on shares of ChargePoint in a research note on Friday, December 5th. The Goldman Sachs Group restated a “sell” rating and set a $5.00 target price on shares of ChargePoint in a report on Thursday, January 15th. B. Riley Financial cut their price target on ChargePoint from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. UBS Group reiterated a “neutral” rating and set a $9.00 price objective (down previously from $12.00) on shares of ChargePoint in a research report on Monday, December 22nd. Finally, Roth Mkm set a $8.50 target price on ChargePoint and gave the company a “neutral” rating in a report on Friday, December 5th.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 3,943 shares of ChargePoint stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the sale, the chief financial officer owned 130,363 shares of the company’s stock, valued at approximately $911,237.37. The trade was a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jagdeep Ca Singh sold 4,832 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total value of $33,775.68. Following the completion of the transaction, the insider owned 124,627 shares in the company, valued at $871,142.73. This represents a 3.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,670 shares of company stock valued at $88,534 in the last three months. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ChargePoint

Several large investors have recently modified their holdings of CHPT. International Assets Investment Management LLC purchased a new position in shares of ChargePoint during the 2nd quarter worth $27,000. Focus Partners Wealth purchased a new position in ChargePoint during the first quarter worth about $27,000. Ethic Inc. purchased a new position in ChargePoint during the second quarter worth about $32,000. Rothschild Investment LLC increased its position in shares of ChargePoint by 233.3% during the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of ChargePoint by 57.1% in the 2nd quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock valued at $47,000 after acquiring an additional 24,470 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Performance

CHPT opened at $6.17 on Monday. The firm has a fifty day moving average price of $6.65 and a 200 day moving average price of $9.08. ChargePoint has a 1 year low of $5.53 and a 1 year high of $17.78. The stock has a market cap of $145.80 million, a P/E ratio of -0.60 and a beta of 1.40. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93.

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 analysts’ consensus estimates 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 company had revenue of $105.67 million during the quarter, compared to analyst estimates of $96.51 million. During the same period in the prior year, the business posted ($1.94) EPS. Equities 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.