Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Target Price at $4.88

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned a consensus recommendation of “Hold” from the nineteen research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $4.88.

A number of research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Thursday, June 6th. TD Cowen dropped their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Benchmark lowered their price target on shares of ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a report on Friday, June 28th. B. Riley upgraded shares of ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th.

ChargePoint Price Performance

Shares of CHPT opened at $2.19 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.45 and a debt-to-equity ratio of 1.02. The firm has a 50-day simple moving average of $1.77 and a two-hundred day simple moving average of $1.80. ChargePoint has a 1-year low of $1.21 and a 1-year high of $8.68.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The firm had revenue of $107.04 million during the quarter, compared to analysts’ expectations of $106.09 million. ChargePoint had a negative net margin of 93.05% and a negative return on equity of 127.18%. On average, analysts anticipate that ChargePoint will post -0.53 EPS for the current year.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares in the company, valued at approximately $563,490.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mansi Khetani sold 19,007 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares in the company, valued at approximately $563,490.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Wilmer sold 27,722 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the sale, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at approximately $3,264,436. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,099 shares of company stock worth $137,498. 3.50% of the stock is currently owned by insiders.

Institutional Trading of ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in ChargePoint by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock valued at $1,960,000 after purchasing an additional 487,262 shares during the last quarter. Wedmont Private Capital acquired a new position in ChargePoint in the 2nd quarter valued at $86,000. SG Americas Securities LLC increased its stake in ChargePoint by 19.2% in the 2nd quarter. SG Americas Securities LLC now owns 130,247 shares of the company’s stock valued at $197,000 after buying an additional 21,007 shares during the period. Cetera Advisors LLC increased its stake in ChargePoint by 752.7% in the 1st quarter. Cetera Advisors LLC now owns 389,584 shares of the company’s stock valued at $740,000 after buying an additional 343,898 shares during the period. Finally, Virtu Financial LLC acquired a new position in ChargePoint in the 1st quarter valued at $399,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

About ChargePoint

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.