Balyasny Asset Management L.P. Buys Shares of 238,788 ChargePoint Holdings, Inc. (NYSE:CHPT)

Balyasny Asset Management L.P. purchased a new stake in ChargePoint Holdings, Inc. (NYSE:CHPT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 238,788 shares of the company’s stock, valued at approximately $256,000. Balyasny Asset Management L.P. owned approximately 0.05% of ChargePoint at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cibc World Markets Corp bought a new stake in shares of ChargePoint in the fourth quarter valued at about $40,000. Callan Family Office LLC bought a new stake in shares of ChargePoint in the fourth quarter valued at about $45,000. Strategic Investment Advisors MI bought a new stake in shares of ChargePoint in the fourth quarter valued at about $46,000. Jones Financial Companies Lllp lifted its holdings in shares of ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock valued at $48,000 after purchasing an additional 17,075 shares in the last quarter. Finally, Perennial Investment Advisors LLC lifted its holdings in shares of ChargePoint by 175.3% in the fourth quarter. Perennial Investment Advisors LLC now owns 54,650 shares of the company’s stock valued at $58,000 after purchasing an additional 34,800 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. UBS Group dropped their target price on ChargePoint from $0.70 to $0.65 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus dropped their target price on ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Evercore ISI lowered ChargePoint from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $4.00 to $1.00 in a report on Monday, March 31st. Finally, The Goldman Sachs Group dropped their target price on ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ChargePoint has an average rating of “Hold” and an average target price of $1.52.

ChargePoint Stock Performance

Shares of CHPT opened at $0.71 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. The stock has a 50-day moving average of $0.63 and a 200-day moving average of $0.89. The company has a market cap of $324.41 million, a PE ratio of -0.96 and a beta of 2.22. ChargePoint Holdings, Inc. has a one year low of $0.51 and a one year high of $2.44.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. On average, equities research analysts predict that ChargePoint Holdings, Inc. will post -0.57 EPS for the current fiscal year.

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.