ChargePoint Holdings, Inc. (NYSE:CHPT) Stock Has Consensus Target Price of $7.07

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned a consensus rating of “Reduce” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.07.

CHPT has been the topic of a number of analyst reports. TD Cowen reaffirmed a “hold” rating on shares of ChargePoint in a research note on Thursday, September 3rd. UBS Group reissued a “neutral” rating and set a $9.00 target price (up from $8.00) on shares of ChargePoint in a research note on Tuesday, September 22nd. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a report on Thursday, September 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research note on Thursday, September 3rd. Finally, Weiss Ratings raised ChargePoint from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, October 15th.

ChargePoint Trading Down 1.2%

CHPT stock opened at $8.25 on Friday. The company has a market capitalization of $221.59 million, a PE ratio of -1.15 and a beta of 1.70. The company has a debt-to-equity ratio of 10.73, a quick ratio of 0.57 and a current ratio of 1.07. ChargePoint has a one year low of $4.44 and a one year high of $11.26. The company’s 50 day moving average price is $7.93 and its two-hundred day moving average price is $6.63.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported ($1.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.57) by $0.22. ChargePoint had a negative net margin of 40.59% and a negative return on equity of 3,366.29%. The company had revenue of $116.08 million during the quarter, compared to analysts’ expectations of $105.21 million. As a group, analysts predict that ChargePoint will post -3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 4,931 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $9.86, for a total value of $48,619.66. Following the completion of the transaction, the chief financial officer directly owned 174,417 shares in the company, valued at approximately $1,719,751.62. This represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Eric Batill sold 4,302 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $9.86, for a total transaction of $42,417.72. Following the completion of the sale, the general counsel directly owned 139,329 shares of the company’s stock, valued at approximately $1,373,783.94. This represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 16,682 shares of company stock valued at $164,485. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors have recently bought and sold shares of CHPT. Renaissance Technologies LLC boosted its position in ChargePoint by 77.7% during the 1st quarter. Renaissance Technologies LLC now owns 144,059 shares of the company’s stock valued at $700,000 after acquiring an additional 63,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of ChargePoint during the 2nd quarter worth approximately $344,000. Squarepoint Ops LLC raised its position in shares of ChargePoint by 70.8% in the 2nd quarter. Squarepoint Ops LLC now owns 25,242 shares of the company’s stock worth $149,000 after acquiring an additional 10,464 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of ChargePoint by 40.0% in the 1st quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock worth $75,000 after acquiring an additional 4,352 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of ChargePoint in the 1st quarter worth approximately $59,000. 37.77% of the stock is owned by institutional investors.

ChargePoint Company Profile

ChargePoint Holdings, Inc develops and operates electric vehicle charging infrastructure and related software. The company provides charging stations, cloud-based management tools and mobile applications that allow drivers to locate, access and pay for charging. Its solutions support home, workplace, multifamily, retail, fleet and public charging applications.

ChargePoint offers Level 2 AC charging equipment as well as DC fast-charging systems through its charging network. Businesses, property owners, fleet operators and other organizations can use the company’s software to manage charging access, energy use, payments and station performance.