Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) PT at $2.46

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have issued 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 issued ratings on the stock in the last year is $2.46.

A number of analysts have issued reports on the company. Stifel Nicolaus cut their target price on ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. UBS Group reduced their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Royal Bank of Canada dropped 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 note on Thursday, December 5th. Benchmark reaffirmed a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd.

Insider Buying and Selling

In other ChargePoint news, CAO Henrik Gerdes sold 28,536 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $32,531.04. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mansi Khetani sold 22,038 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the transaction, the chief financial officer now owns 1,230,305 shares of the company’s stock, valued at approximately $1,402,547.70. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,148 shares of company stock valued at $99,349. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of ChargePoint by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock worth $243,000 after buying an additional 9,519 shares during the period. Franklin Resources Inc. purchased a new stake in shares of ChargePoint in the 3rd quarter valued at approximately $117,000. Geode Capital Management LLC lifted its position in shares of ChargePoint by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after purchasing an additional 399,070 shares during the last quarter. XTX Topco Ltd lifted its position in shares of ChargePoint by 1,141.0% during the 3rd quarter. XTX Topco Ltd now owns 308,786 shares of the company’s stock worth $423,000 after purchasing an additional 283,904 shares during the last quarter. Finally, State Street Corp increased its holdings in ChargePoint by 1.4% in the third quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after buying an additional 142,767 shares during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Performance

NYSE:CHPT opened at $1.11 on Friday. ChargePoint has a one year low of $1.02 and a one year high of $2.44. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The stock has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.46.

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.