Y Intercept Hong Kong Ltd Buys New Position in ChargePoint Holdings, Inc. $CHPT

Y Intercept Hong Kong Ltd bought a new position in ChargePoint Holdings, Inc. (NYSE:CHPT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 277,001 shares of the company’s stock, valued at approximately $195,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in shares of ChargePoint during the 1st quarter worth approximately $33,000. Cerity Partners LLC acquired a new position in shares of ChargePoint during the 1st quarter valued at $54,000. CWM LLC boosted its stake in ChargePoint by 1,525.7% during the first quarter. CWM LLC now owns 218,188 shares of the company’s stock worth $132,000 after acquiring an additional 204,767 shares in the last quarter. Larson Financial Group LLC boosted its stake in ChargePoint by 17,513.1% during the first quarter. Larson Financial Group LLC now owns 100,571 shares of the company’s stock worth $61,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in ChargePoint in the first quarter worth $113,000. 37.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Thursday, September 4th. Roth Capital set a $11.00 target price on ChargePoint and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. TD Cowen dropped their price target on ChargePoint from $30.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, September 4th. Benchmark reduced their price objective on ChargePoint from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. decreased their price objective on ChargePoint from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Thursday, September 4th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.56.

ChargePoint Trading Down 0.7%

CHPT opened at $9.73 on Monday. ChargePoint Holdings, Inc. has a fifty-two week low of $8.55 and a fifty-two week high of $30.00. The firm has a market capitalization of $227.22 million, a PE ratio of -0.84 and a beta of 2.55. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.67 and a quick ratio of 1.00. The company’s 50-day moving average is $10.91 and its 200 day moving average is $12.26.

Insider Buying and Selling

In other news, insider John David Vice sold 2,363 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $11.27, for a total value of $26,631.01. Following the completion of the sale, the insider directly owned 123,615 shares of the company’s stock, valued at $1,393,141.05. This represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 7,426 shares of company stock worth $83,691. Insiders own 3.50% of the company’s stock.

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.