ChargePoint (NYSE:CHPT) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of ChargePoint (NYSE:CHPT) in a report released on Wednesday morning,Benzinga reports.

A number of other analysts have also recently issued reports on CHPT. Benchmark reiterated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Wednesday, November 20th. The Goldman Sachs Group decreased their target price on ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a report on Thursday, February 20th. UBS Group decreased their price target on ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, Royal Bank of Canada decreased their price target on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.41.

ChargePoint Trading Up 9.5 %

NYSE CHPT opened at $0.72 on Wednesday. ChargePoint has a 12 month low of $0.56 and a 12 month high of $2.44. The company has a 50-day moving average of $0.93 and a 200-day moving average of $1.20. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. The company has a market cap of $319.81 million, a P/E ratio of -0.98 and a beta of 1.70.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. The company had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. As a group, equities analysts predict that ChargePoint will post -0.57 earnings per share for the current year.

Insider Activity

In other news, insider Jagdeep Ca Singh sold 36,574 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the completion of the transaction, the insider now directly owns 1,161,430 shares in the company, valued at approximately $1,324,030.20. This represents a 3.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Henrik Gerdes sold 28,536 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $32,531.04. Following the sale, the chief accounting officer now directly owns 362,060 shares in the company, valued at approximately $412,748.40. This represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 87,148 shares of company stock worth $99,349. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in shares of ChargePoint by 1.4% during the 3rd quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after acquiring an additional 142,767 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ChargePoint by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 9,276,632 shares of the company’s stock valued at $9,929,000 after acquiring an additional 204,464 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of ChargePoint during the 4th quarter valued at approximately $8,746,000. Invesco Ltd. raised its position in shares of ChargePoint by 13.1% during the 4th quarter. Invesco Ltd. now owns 5,029,849 shares of the company’s stock valued at $5,382,000 after acquiring an additional 583,761 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ChargePoint by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company’s stock valued at $3,570,000 after acquiring an additional 85,516 shares in the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

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.