ChargePoint (NYSE:CHPT) PT Lowered to $4.00 at Evercore ISI

ChargePoint (NYSE:CHPT) had its target price trimmed by Evercore ISI from $6.00 to $4.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

CHPT has been the subject of a number of other reports. Needham & Company LLC reduced their price objective on shares of ChargePoint from $3.00 to $2.00 and set a buy rating for the company in a research note on Thursday. B. Riley upgraded ChargePoint to a hold rating in a research note on Tuesday, June 25th. Benchmark lowered their price objective on ChargePoint from $4.25 to $3.00 and set a buy rating on the stock in a research report on Friday, June 28th. Finally, TD Cowen cut their target price on ChargePoint from $4.00 to $3.00 and set a buy rating for the company in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $3.90.

ChargePoint Stock Performance

NYSE:CHPT opened at $1.31 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13. The stock has a 50-day simple moving average of $1.86 and a two-hundred day simple moving average of $1.76. The firm has a market capitalization of $554.60 million, a PE ratio of -1.11 and a beta of 1.70. ChargePoint has a 52-week low of $1.21 and a 52-week high of $6.33.

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

Insider Activity at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the business’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 sale, the chief accounting officer now directly owns 438,004 shares of the company’s stock, valued at $657,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Mansi Khetani sold 19,007 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares in the company, valued at approximately $563,490.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Henrik Gerdes sold 43,596 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $1.50, for a total transaction of $65,394.00. Following the transaction, the chief accounting officer now owns 438,004 shares in the company, valued at $657,006. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,099 shares of company stock valued at $137,498. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Balentine LLC bought a new stake in shares of ChargePoint during the 4th quarter worth approximately $26,000. Bridgecreek Investment Management LLC bought a new stake in shares of ChargePoint during the fourth quarter worth $33,000. Simmons Bank purchased a new stake in shares of ChargePoint during the fourth quarter valued at $35,000. CreativeOne Wealth LLC bought a new position in shares of ChargePoint in the first quarter worth about $30,000. Finally, PDS Planning Inc purchased a new position in ChargePoint in the 1st quarter worth about $31,000. Hedge funds and other 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.