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

ChargePoint Holdings, Inc. (NYSE:CHPT) has received an average recommendation of “Hold” from the twenty analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $6.14.

Several equities analysts recently issued reports on the stock. R. F. Lafferty cut their price target on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of ChargePoint in a report on Thursday, April 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price target (down from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. DA Davidson reissued a “buy” rating and set a $4.00 price target on shares of ChargePoint in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $1.50 price target (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the sale, the chief financial officer now owns 421,500 shares in the company, valued at approximately $788,205. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Mansi Khetani sold 19,035 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the transaction, the chief financial officer now owns 421,500 shares in the company, valued at $788,205. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Linse sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the transaction, the director now owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. Insiders sold a total of 154,846 shares of company stock worth $296,562 in the last quarter. 12.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHPT. Bank of New York Mellon Corp lifted its stake in ChargePoint by 8.1% in the first quarter. Bank of New York Mellon Corp now owns 652,385 shares of the company’s stock valued at $12,969,000 after buying an additional 48,903 shares in the last quarter. HighTower Advisors LLC lifted its stake in ChargePoint by 46.4% in the first quarter. HighTower Advisors LLC now owns 30,579 shares of the company’s stock valued at $610,000 after buying an additional 9,689 shares in the last quarter. Private Advisor Group LLC lifted its stake in ChargePoint by 152.8% in the first quarter. Private Advisor Group LLC now owns 35,608 shares of the company’s stock valued at $708,000 after buying an additional 21,524 shares in the last quarter. D.A. Davidson & CO. bought a new position in ChargePoint in the first quarter valued at approximately $213,000. Finally, MetLife Investment Management LLC bought a new position in ChargePoint in the first quarter valued at approximately $91,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Performance

NYSE CHPT opened at $1.51 on Friday. The company’s fifty day moving average is $1.90 and its two-hundred day moving average is $2.32. The firm has a market capitalization of $629.14 million, a price-to-earnings ratio of -1.21 and a beta of 1.62. ChargePoint has a 52-week low of $1.50 and a 52-week high of $10.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $115.83 million during the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. Equities research analysts forecast that ChargePoint will post -0.63 EPS for the current year.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.