ChargePoint (NYSE:CHPT) Price Target Cut to $3.00 by Analysts at Benchmark

ChargePoint (NYSE:CHPTFree Report) had its target price decreased by Benchmark from $4.25 to $3.00 in a research note issued to investors on Friday, Benzinga reports. Benchmark currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC restated a buy rating and set a $3.00 price objective on shares of ChargePoint in a research report on Thursday, June 6th. R. F. Lafferty reduced their price objective on shares of ChargePoint from $4.00 to $3.00 and set a hold rating for the company in a research report on Wednesday, March 6th. TD Cowen reduced their price objective on shares of ChargePoint from $4.00 to $3.00 and set a buy rating for the company in a research report on Thursday, June 6th. Oppenheimer reiterated a market perform rating on shares of ChargePoint in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group reiterated a sell rating and issued a $1.50 target price (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $4.88.

Check Out Our Latest Research Report on ChargePoint

ChargePoint Trading Down 0.7 %

NYSE:CHPT opened at $1.50 on Friday. ChargePoint has a twelve month low of $1.21 and a twelve month high of $9.23. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13. The company has a 50-day moving average of $1.62 and a 200-day moving average of $1.87.

Insider Activity at ChargePoint

In related news, CAO Henrik Gerdes sold 43,596 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total transaction of $65,394.00. Following the transaction, the chief accounting officer now owns 438,004 shares of the company’s stock, valued at $657,006. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total value of $65,394.00. Following the transaction, the chief accounting officer now owns 438,004 shares of the company’s stock, valued at $657,006. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of ChargePoint stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the transaction, the chief executive officer now directly owns 2,331,740 shares in the company, valued at approximately $3,264,436. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,099 shares of company stock valued at $137,498. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChargePoint

Institutional investors have recently modified their holdings of the company. Balentine LLC bought a new position in shares of ChargePoint in the fourth quarter valued at approximately $26,000. CreativeOne Wealth LLC acquired a new stake in shares of ChargePoint in the first quarter worth $30,000. RWA Wealth Partners LLC acquired a new stake in shares of ChargePoint in the fourth quarter worth $31,000. PDS Planning Inc acquired a new stake in shares of ChargePoint in the first quarter worth $31,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of ChargePoint in the fourth quarter worth $33,000. Institutional investors own 37.77% of the company’s stock.

About ChargePoint

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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.

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Analyst Recommendations for ChargePoint (NYSE:CHPT)

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