ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $2.46 Consensus Target Price from Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $2.46.

CHPT has been the subject of a number of research reports. TD Cowen cut ChargePoint from a “buy” rating to a “hold” rating and lowered their price target for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada reduced their price target on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. downgraded shares of ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Finally, 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 report on Wednesday, October 30th.

Insider Activity at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $1.32, for a total value of $34,700.16. Following the sale, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at approximately $515,586.72. This trade represents a 6.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CIBC Asset Management Inc increased its holdings in ChargePoint by 50.7% in the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after acquiring an additional 5,770 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of ChargePoint by 41.4% in the second quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock valued at $39,000 after purchasing an additional 7,723 shares during the period. PFG Investments LLC increased its stake in shares of ChargePoint by 32.2% during the second quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock worth $51,000 after purchasing an additional 8,297 shares in the last quarter. Jeppson Wealth Management LLC raised its position in shares of ChargePoint by 28.3% during the 3rd quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock worth $59,000 after purchasing an additional 9,480 shares during the last quarter. Finally, Perennial Investment Advisors LLC lifted its stake in ChargePoint by 74.4% in the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock valued at $37,000 after buying an additional 10,400 shares in the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Trading Up 8.8 %

Shares of ChargePoint stock opened at $1.24 on Wednesday. ChargePoint has a 12-month low of $1.05 and a 12-month high of $2.68. The firm’s 50 day simple moving average is $1.23 and its two-hundred day simple moving average is $1.52. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $548.50 million, a price-to-earnings ratio of -1.68 and a beta of 1.69.

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.