ChargePoint (NYSE:CHPT) Now Covered by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of ChargePoint (NYSE:CHPT) in a report released on Thursday, Marketbeat reports. The brokerage issued a peer perform rating on the stock.

A number of other research analysts have also weighed in on the stock. Needham & Company LLC cut their target price on shares of ChargePoint from $3.00 to $2.00 and set a buy rating for the company in a research report on Thursday. TD Cowen cut ChargePoint from a buy rating to a hold rating and cut their price objective for the stock from $3.00 to $2.00 in a research report on Thursday. B. Riley raised ChargePoint to a hold rating in a report on Tuesday, June 25th. Evercore ISI cut their price target on ChargePoint from $6.00 to $4.00 and set an outperform rating for the company in a report on Thursday. Finally, Benchmark dropped their target price on shares of ChargePoint from $4.25 to $3.00 and set a buy rating on the stock in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, ChargePoint presently has a consensus rating of Hold and an average price target of $3.90.

ChargePoint Stock Down 5.8 %

Shares of ChargePoint stock opened at $1.31 on Thursday. ChargePoint has a 12-month low of $1.21 and a 12-month high of $6.33. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average price of $1.86 and a two-hundred day moving average price of $1.76. The stock has a market capitalization of $554.60 million, a P/E ratio of -1.11 and a beta of 1.70.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Wednesday, June 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 104.05%. The business had revenue of $107.04 million during the quarter, compared to the consensus estimate of $106.09 million. Equities analysts expect that ChargePoint will post -0.53 earnings per share for the current year.

Insider Activity

In related news, CAO Henrik Gerdes sold 43,596 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the completion of the transaction, the chief accounting officer now owns 438,004 shares in the company, valued at approximately $657,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mansi Khetani sold 19,007 shares of ChargePoint stock in a transaction dated 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 transaction, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Henrik Gerdes sold 43,596 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at $657,006. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,099 shares of company stock worth $137,498. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CHPT. Balentine LLC bought a new position in ChargePoint in the 4th quarter valued at $26,000. Bridgecreek Investment Management LLC acquired a new stake in shares of ChargePoint in the fourth quarter valued at $33,000. Simmons Bank bought a new position in shares of ChargePoint in the fourth quarter valued at about $35,000. CreativeOne Wealth LLC acquired a new position in ChargePoint during the 1st quarter worth about $30,000. Finally, PDS Planning Inc bought a new stake in ChargePoint during the 1st quarter worth about $31,000. 37.77% of the stock is owned by institutional investors and hedge funds.

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.