ChargePoint Holdings, Inc. (NYSE:CHPT) Given Consensus Rating of “Hold” by Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned a consensus recommendation of “Hold” from the twenty research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.14.

CHPT has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 target price (down from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. Benchmark restated a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a research note on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Thursday, April 4th. Oppenheimer restated a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th.

Insider Transactions at ChargePoint

In other news, Director Michael Linse sold 100,000 shares of ChargePoint stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the sale, the director now directly owns 1,209,867 shares in the company, valued at $2,347,141.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the transaction, the chief executive officer now owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Linse sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the transaction, the director now directly owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,846 shares of company stock worth $296,562. Company insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. O ROURKE & COMPANY Inc raised its holdings in shares of ChargePoint by 39.7% during the first quarter. O ROURKE & COMPANY Inc now owns 34,048 shares of the company’s stock worth $65,000 after purchasing an additional 9,668 shares during the last quarter. Bouvel Investment Partners LLC raised its holdings in shares of ChargePoint by 138.8% during the first quarter. Bouvel Investment Partners LLC now owns 303,264 shares of the company’s stock worth $576,000 after purchasing an additional 176,246 shares during the last quarter. Quadrature Capital Ltd purchased a new position in ChargePoint in the fourth quarter valued at $1,257,000. Clarity Capital Partners LLC purchased a new position in ChargePoint in the fourth quarter valued at $310,000. Finally, GSA Capital Partners LLP purchased a new position in ChargePoint in the fourth quarter valued at $99,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Performance

Shares of CHPT stock opened at $1.39 on Friday. ChargePoint has a 52 week low of $1.34 and a 52 week high of $10.10. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $1.87 and its two-hundred day simple moving average is $2.31.

ChargePoint (NYSE:CHPT) last posted its earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The firm had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. As a group, research analysts predict that ChargePoint will post -0.63 EPS for the current year.

About ChargePoint

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.