ChargePoint (NYSE:CHPT) Given New $5.00 Price Target at JPMorgan Chase & Co.

ChargePoint (NYSE:CHPT) had its target price cut by JPMorgan Chase & Co. from $8.00 to $5.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Janney Montgomery Scott cut ChargePoint from a buy rating to a neutral rating in a research note on Friday. Evercore ISI cut their price objective on ChargePoint from $20.00 to $17.00 and set an outperform rating on the stock in a research note on Friday, September 8th. Fox Advisors cut ChargePoint from an overweight rating to an equal weight rating in a research note on Thursday, September 7th. TD Cowen dropped their price target on ChargePoint from $14.00 to $11.00 and set an outperform rating on the stock in a research report on Thursday, September 7th. Finally, R. F. Lafferty dropped their price target on ChargePoint from $19.00 to $17.00 and set a buy rating on the stock in a research report on Thursday, September 7th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, ChargePoint currently has an average rating of Hold and a consensus target price of $10.16.

ChargePoint Price Performance

Shares of NYSE CHPT opened at $2.11 on Friday. ChargePoint has a 1-year low of $1.95 and a 1-year high of $13.65. The business has a 50-day moving average of $3.77 and a 200-day moving average of $6.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.03 and a quick ratio of 1.61. The company has a market capitalization of $759.71 million, a price-to-earnings ratio of -1.99 and a beta of 1.81.

ChargePoint (NYSE:CHPT) last issued its earnings results on Wednesday, September 6th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.22). ChargePoint had a negative return on equity of 106.73% and a negative net margin of 65.71%. The company had revenue of $150.49 million during the quarter, compared to analysts’ expectations of $153.25 million. During the same period in the previous year, the company earned ($0.27) EPS. ChargePoint’s quarterly revenue was up 39.0% on a year-over-year basis. On average, equities analysts anticipate that ChargePoint will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at ChargePoint

In other news, Director Michael Linse sold 1,005,328 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $5.78, for a total transaction of $5,810,795.84. Following the completion of the sale, the director now owns 468,142 shares in the company, valued at approximately $2,705,860.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Richard Wilmer sold 8,191 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $5.03, for a total value of $41,200.73. Following the completion of the sale, the insider now owns 628,840 shares in the company, valued at $3,163,065.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Linse sold 1,005,328 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $5.78, for a total value of $5,810,795.84. Following the completion of the sale, the director now owns 468,142 shares of the company’s stock, valued at approximately $2,705,860.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,316,970 shares of company stock valued at $24,767,903. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of ChargePoint

Hedge funds have recently modified their holdings of the business. Almanack Investment Partners LLC. purchased a new stake in shares of ChargePoint in the third quarter valued at $43,000. First Manhattan Co. lifted its holdings in shares of ChargePoint by 65.4% in the first quarter. First Manhattan Co. now owns 3,085 shares of the company’s stock valued at $61,000 after purchasing an additional 1,220 shares in the last quarter. American International Group Inc. lifted its holdings in shares of ChargePoint by 30.0% in the second quarter. American International Group Inc. now owns 3,101 shares of the company’s stock valued at $42,000 after purchasing an additional 716 shares in the last quarter. Hollencrest Capital Management lifted its holdings in shares of ChargePoint by 162.2% in the first quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock valued at $36,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Trium Capital LLP purchased a new stake in shares of ChargePoint in the first quarter valued at $37,000. Hedge funds and other institutional investors own 45.01% 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 United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.