Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) PT at $8.63

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned a consensus recommendation of “Reduce” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.6250.

CHPT has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, March 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a report on Monday, April 20th. Royal Bank Of Canada decreased their target price on shares of ChargePoint from $9.00 to $6.50 and set a “sector perform” rating on the stock in a research report on Thursday, March 5th. B. Riley Financial lowered their price target on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Finally, Wall Street Zen upgraded ChargePoint from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th.

ChargePoint Trading Down 2.8%

Shares of CHPT opened at $7.58 on Wednesday. The company has a debt-to-equity ratio of 10.73, a current ratio of 1.20 and a quick ratio of 0.64. ChargePoint has a 1 year low of $4.44 and a 1 year high of $17.78. The company has a 50 day simple moving average of $6.09 and a two-hundred day simple moving average of $6.71. The firm has a market cap of $179.29 million, a P/E ratio of -0.81 and a beta of 1.69.

Insider Activity

In related news, CEO Richard Wilmer acquired 46,847 shares of the stock in a transaction dated Monday, April 13th. The stock was acquired at an average cost of $5.34 per share, with a total value of $250,162.98. Following the purchase, the chief executive officer directly owned 511,224 shares of the company’s stock, valued at approximately $2,729,936.16. This trade represents a 10.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 8,685 shares of company stock valued at $46,031. 3.50% of the stock is owned by company insiders.

Institutional Trading of ChargePoint

A number of institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in ChargePoint by 77.7% in the first quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock worth $700,000 after buying an additional 63,000 shares during the last quarter. Hsbc Holdings PLC lifted its position in ChargePoint by 40.0% in the first quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock worth $75,000 after buying an additional 4,352 shares during the last quarter. R Squared Ltd bought a new stake in ChargePoint in the first quarter worth $59,000. Invesco Ltd. lifted its position in ChargePoint by 94.2% in the fourth quarter. Invesco Ltd. now owns 340,479 shares of the company’s stock worth $2,261,000 after buying an additional 165,152 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in ChargePoint in the fourth quarter worth $365,000. 37.77% of the stock is currently owned by institutional investors.

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.