ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $12.65 Average PT from Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned a consensus rating of “Reduce” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.65.

Several brokerages have weighed in on CHPT. B. Riley reduced their price objective on ChargePoint from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $10.00 price objective (up from $9.00) on shares of ChargePoint in a research note on Monday, December 8th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 price target (down from $10.00) on shares of ChargePoint in a report on Friday, December 5th. Finally, Roth Capital set a $8.50 target price on shares of ChargePoint and gave the company a “neutral” rating in a research report on Friday, December 5th.

ChargePoint Price Performance

CHPT stock opened at $7.04 on Friday. The company has a debt-to-equity ratio of 8.38, a quick ratio of 0.93 and a current ratio of 1.59. The company’s fifty day moving average price is $8.53 and its 200-day moving average price is $10.67. ChargePoint has a one year low of $6.63 and a one year high of $26.00. The company has a market capitalization of $166.57 million, a PE ratio of -0.69 and a beta of 1.40.

ChargePoint (NYSE:CHPT) last posted its earnings results on Thursday, December 4th. The company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.88). The company had revenue of $105.67 million for the quarter, compared to analysts’ expectations of $96.51 million. ChargePoint had a negative net margin of 59.54% and a negative return on equity of 209.46%. During the same period in the previous year, the business posted ($1.94) earnings per share. On average, equities analysts anticipate that ChargePoint will post -0.57 EPS for the current fiscal year.

Insider Transactions at ChargePoint

In other news, 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 directly owned 124,627 shares of the company’s stock, valued at $871,142.73. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mansi Khetani sold 3,943 shares of ChargePoint stock in a transaction on 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 $911,237.37. This represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 12,670 shares of company stock valued at $88,534. 3.50% of the stock is currently owned by insiders.

Institutional Trading of ChargePoint

Several large investors have recently made changes to their positions in CHPT. AQR Capital Management LLC increased its position in ChargePoint by 6,429.1% during the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock worth $1,553,000 after purchasing an additional 2,638,182 shares during the last quarter. GMT Capital Corp purchased a new stake in shares of ChargePoint in the 1st quarter valued at approximately $1,226,000. Goldman Sachs Group Inc. increased its holdings in shares of ChargePoint by 61.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock worth $2,293,000 after buying an additional 1,448,114 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ChargePoint during the 1st quarter worth approximately $759,000. Finally, Soviero Asset Management LP purchased a new stake in shares of ChargePoint during the 2nd quarter valued at approximately $633,000. 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.