Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Target Price at $2.46

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $2.46.

A number of equities analysts have weighed in on the company. Benchmark reissued a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Thursday, December 5th. UBS Group dropped their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Stifel Nicolaus decreased their target price on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada lowered their price target on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th.

ChargePoint Trading Up 2.7 %

CHPT stock opened at $0.70 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. ChargePoint has a 1-year low of $0.66 and a 1-year high of $2.44. The business has a fifty day moving average price of $1.08 and a 200-day moving average price of $1.32.

Insiders Place Their Bets

In other ChargePoint news, CAO Henrik Gerdes sold 28,536 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $32,531.04. Following the completion of the transaction, the chief accounting officer now directly owns 362,060 shares in the company, valued at $412,748.40. This represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mansi Khetani sold 22,038 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $25,123.32. Following the sale, the chief financial officer now owns 1,230,305 shares in the company, valued at $1,402,547.70. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,148 shares of company stock worth $99,349 over the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChargePoint

A number of hedge funds have recently made changes to their positions in CHPT. AQR Capital Management LLC purchased a new position in ChargePoint in the 2nd quarter worth approximately $1,310,000. The Manufacturers Life Insurance Company purchased a new position in shares of ChargePoint in the second quarter worth $231,000. Algert Global LLC bought a new position in shares of ChargePoint during the second quarter worth $58,000. Creative Planning grew its stake in ChargePoint by 152.3% during the second quarter. Creative Planning now owns 188,363 shares of the company’s stock valued at $284,000 after acquiring an additional 113,699 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in ChargePoint during the second quarter valued at $138,000. Institutional investors own 37.77% 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.