Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $12.40

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been given an average recommendation of “Hold” by the eighteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.16.

A number of equities research analysts have commented on CHPT shares. Bank of America cut ChargePoint from a “buy” rating to a “neutral” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on ChargePoint from $8.00 to $5.00 and set an “overweight” rating on the stock in a research note on Friday. Stifel Nicolaus cut shares of ChargePoint from a “buy” rating to a “hold” rating in a research report on Monday. TD Cowen reduced their price objective on shares of ChargePoint from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, September 7th. Finally, Evercore ISI decreased their price target on shares of ChargePoint from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, September 8th.

Insider Transactions at ChargePoint

In other ChargePoint news, insider Richard Wilmer sold 8,191 shares of ChargePoint stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $5.03, for a total transaction of $41,200.73. Following the completion of the transaction, the insider now directly owns 628,840 shares of the company’s stock, valued at $3,163,065.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Henrik Gerdes sold 5,328 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $5.03, for a total transaction of $26,799.84. Following the completion of the transaction, the chief accounting officer now owns 78,210 shares in the company, valued at approximately $393,396.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard Wilmer sold 8,191 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $5.03, for a total transaction of $41,200.73. Following the sale, the insider now directly owns 628,840 shares of the company’s stock, valued at $3,163,065.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,316,970 shares of company stock worth $24,767,903. 12.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ChargePoint

Several large investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management boosted its holdings in shares of ChargePoint by 162.2% in the first quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock valued at $36,000 after purchasing an additional 2,100 shares during the period. Trium Capital LLP purchased a new stake in shares of ChargePoint in the first quarter valued at approximately $37,000. Ameritas Advisory Services LLC purchased a new stake in shares of ChargePoint in the first quarter valued at approximately $38,000. Dark Forest Capital Management LP purchased a new stake in shares of ChargePoint in the 1st quarter worth $39,000. Finally, Smithfield Trust Co purchased a new stake in shares of ChargePoint in the 2nd quarter worth $40,000. 45.01% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Price Performance

NYSE CHPT opened at $2.11 on Tuesday. ChargePoint has a 12 month low of $1.95 and a 12 month high of $13.65. The stock has a market cap of $759.71 million, a price-to-earnings ratio of -1.99 and a beta of 1.81. The company’s 50 day moving average is $3.77 and its two-hundred day moving average is $6.64. The company has a current ratio of 2.03, a quick ratio of 1.61 and a debt-to-equity ratio of 1.07.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Wednesday, September 6th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.22). The firm had revenue of $150.49 million for the quarter, compared to the consensus estimate of $153.25 million. ChargePoint had a negative net margin of 65.71% and a negative return on equity of 106.73%. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) earnings per share. As a group, research analysts anticipate that ChargePoint will post -0.96 earnings per share for the current year.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.