ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Average Rating of “Hold” from Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have received a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $2.46.

CHPT has been the subject of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. Benchmark reissued a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Wednesday, November 20th. UBS Group lowered their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Stifel Nicolaus dropped their target price on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Finally, Royal Bank of Canada decreased their price target on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th.

ChargePoint Stock Performance

NYSE:CHPT opened at $0.79 on Thursday. The stock has a 50-day simple moving average of $1.10 and a two-hundred day simple moving average of $1.33. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. ChargePoint has a 52-week low of $0.79 and a 52-week high of $2.44. The firm has a market capitalization of $349.45 million, a PE ratio of -1.07 and a beta of 1.70.

Insider Activity at ChargePoint

In other news, CFO Mansi Khetani sold 22,038 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $25,123.32. Following the sale, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Henrik Gerdes sold 28,536 shares of ChargePoint stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $32,531.04. Following the completion of the transaction, the chief accounting officer now owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. This represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,148 shares of company stock valued at $99,349. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of ChargePoint by 1.4% during the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after purchasing an additional 142,767 shares during the last quarter. Geode Capital Management LLC increased its position in ChargePoint by 4.6% during the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock valued at $12,432,000 after acquiring an additional 399,070 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ChargePoint by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company’s stock valued at $3,570,000 after acquiring an additional 85,516 shares during the period. Stifel Financial Corp lifted its holdings in shares of ChargePoint by 15.5% in the 3rd quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock worth $2,816,000 after acquiring an additional 275,653 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of ChargePoint during the 3rd quarter worth about $2,570,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

About ChargePoint

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.