ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Average Rating of “Reduce” from Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned a consensus rating of “Reduce” from the ten research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.6250.

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a research note on Monday, April 20th. UBS Group decreased their price target on shares of ChargePoint from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. B. Riley Financial decreased their price target on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Finally, Wall Street Zen raised shares of ChargePoint from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th.

Insider Activity at ChargePoint

In other ChargePoint news, CEO Richard Wilmer purchased 46,847 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were purchased at an average cost of $5.34 per share, with a total value of $250,162.98. Following the completion of the purchase, the chief executive officer owned 511,224 shares of the company’s stock, valued at $2,729,936.16. The trade was a 10.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 8,685 shares of company stock worth $46,031 over the last quarter. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Focus Partners Wealth bought a new position in shares of ChargePoint in the first quarter worth approximately $27,000. Rothschild Investment LLC grew its holdings in shares of ChargePoint by 233.3% in the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after purchasing an additional 3,500 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of ChargePoint by 57.1% in the second quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock worth $47,000 after purchasing an additional 24,470 shares during the last quarter. Pilgrim Partners Asia Pte Ltd grew its holdings 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. Finally, R Squared Ltd bought a new position in shares of ChargePoint in the first quarter worth approximately $59,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Trading Up 3.7%

Shares of CHPT opened at $8.18 on Wednesday. The firm’s 50 day simple moving average is $6.14 and its 200 day simple moving average is $6.67. The company has a market capitalization of $193.53 million, a P/E ratio of -0.88 and a beta of 1.74. The company has a debt-to-equity ratio of 10.73, a current ratio of 1.20 and a quick ratio of 0.64. ChargePoint has a 1-year low of $4.44 and a 1-year high of $17.78.

About ChargePoint

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.