ChargePoint (NYSE:CHPT) Price Target Lowered to $7.00 at UBS Group

ChargePoint (NYSE:CHPT) had its price target cut by equities researchers at UBS Group from $9.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 29.18% from the company’s current price.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada decreased their price target on shares of ChargePoint from $9.00 to $6.50 and set a “sector perform” rating for the company in a research note on Thursday, March 5th. B. Riley Financial dropped their price objective on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their price objective on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, March 5th. The Goldman Sachs Group reiterated a “sell” rating and set a $5.00 target price on shares of ChargePoint in a report on Thursday, January 15th. Finally, Roth Mkm set a $8.50 price target on ChargePoint and gave the stock a “neutral” rating in a research report on Friday, December 5th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, ChargePoint presently has a consensus rating of “Reduce” and an average price target of $9.89.

ChargePoint Trading Up 1.5%

Shares of CHPT stock traded up $0.08 during mid-day trading on Monday, reaching $5.42. The stock had a trading volume of 523,422 shares, compared to its average volume of 496,021. The firm has a market capitalization of $128.16 million, a PE ratio of -0.58 and a beta of 1.40. The stock’s 50-day moving average price is $6.31 and its two-hundred day moving average price is $8.50. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 8.38. ChargePoint has a 52-week low of $5.23 and a 52-week high of $17.78.

Insider Activity

In other ChargePoint news, CFO Mansi Khetani sold 3,943 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the completion of the sale, the chief financial officer directly owned 130,363 shares in the company, valued at approximately $911,237.37. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jagdeep Ca Singh sold 4,832 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $33,775.68. Following the completion of the transaction, the insider owned 124,627 shares in the company, valued at approximately $871,142.73. This represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,670 shares of company stock worth $88,534 over the last three months. 3.50% of the stock is currently owned by insiders.

Institutional Trading of ChargePoint

Institutional investors have recently added to or reduced their stakes in the business. Pilgrim Partners Asia Pte Ltd raised its stake in shares of ChargePoint by 56.4% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after purchasing an additional 3,100 shares during the last quarter. Rothschild Investment LLC boosted its position in shares of ChargePoint by 233.3% during the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after buying an additional 3,500 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in ChargePoint by 26.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after buying an additional 9,208 shares in the last quarter. EFG International AG purchased a new position in ChargePoint in the 4th quarter worth about $72,000. Finally, Squarepoint Ops LLC raised its position in ChargePoint by 126.1% in the 4th quarter. Squarepoint Ops LLC now owns 26,668 shares of the company’s stock worth $177,000 after buying an additional 14,871 shares during the last quarter. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Company Profile

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.