ChargePoint’s (CHPT) Buy Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of ChargePoint (NYSE:CHPT) in a research report report published on Thursday morning, Benzinga reports. Benchmark currently has a $3.00 price objective on the stock.

Several other research analysts also recently commented on CHPT. Needham & Company LLC reduced their price target on shares of ChargePoint from $3.00 to $2.00 and set a buy rating on the stock in a research note on Thursday. Wolfe Research assumed coverage on shares of ChargePoint in a research report on Thursday. They set a peer perform rating on the stock. B. Riley raised shares of ChargePoint to a hold rating in a research report on Tuesday, June 25th. TD Cowen downgraded shares of ChargePoint from a buy rating to a hold rating and cut their target price for the company from $3.00 to $2.00 in a research report on Thursday. Finally, Evercore ISI cut their target price on shares of ChargePoint from $6.00 to $4.00 and set an outperform rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, ChargePoint currently has a consensus rating of Hold and a consensus target price of $3.39.

ChargePoint Trading Down 5.8 %

CHPT stock opened at $1.31 on Thursday. The company has a market capitalization of $554.60 million, a PE ratio of -1.11 and a beta of 1.70. ChargePoint has a 12 month low of $1.21 and a 12 month high of $6.33. The firm’s 50-day moving average is $1.86 and its 200 day moving average is $1.76. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.13 and a quick ratio of 1.45.

Insider Buying and Selling

In related news, CFO Mansi Khetani sold 19,007 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 value of $26,609.80. Following the completion of the sale, the chief financial officer now directly owns 402,493 shares in the company, valued at approximately $563,490.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ChargePoint 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 transaction of $65,394.00. Following the completion of the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mansi Khetani sold 19,007 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 $26,609.80. Following the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at $563,490.20. The disclosure for this sale can be found here. Insiders sold 95,099 shares of company stock worth $137,498 in the last three months. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of CHPT. Balentine LLC acquired a new stake in ChargePoint during the 4th quarter valued at approximately $26,000. CIBC Asset Management Inc lifted its stake in ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after acquiring an additional 5,770 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of ChargePoint in the 1st quarter valued at $30,000. PDS Planning Inc acquired a new position in shares of ChargePoint in the 1st quarter valued at $31,000. Finally, Delap Wealth Advisory LLC acquired a new position in shares of ChargePoint in the 2nd quarter valued at $31,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Company Profile

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.