Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Target Price at $10.67

by · The Markets Daily

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT – Get Free Report) have earned a consensus rating of “Reduce” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.1111.

Several equities analysts have weighed in on the company. Royal Bank Of Canada cut their target price on ChargePoint from $9.00 to $6.50 and set a “sector perform” rating on the stock in a research note on Thursday, March 5th. UBS Group restated a “neutral” rating and set a $9.00 target price (down from $12.00) on shares of ChargePoint in a research report on Monday, December 22nd. JPMorgan Chase & Co. lowered their price target on ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 5th. Roth Mkm set a $8.50 price target on shares of ChargePoint and gave the company a “neutral” rating in a research report on Friday, December 5th. Finally, B. Riley Financial reduced their price objective on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday.

View Our Latest Analysis on ChargePoint

ChargePoint Stock Down 0.8%

NYSE:CHPT opened at $5.33 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 8.38. ChargePoint has a 12-month low of $5.23 and a 12-month high of $17.78. The stock’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $8.50. The firm has a market capitalization of $125.94 million, a P/E ratio of -0.57 and a beta of 1.40.

Insider Buying and Selling at ChargePoint

In other news, insider Jagdeep Ca Singh sold 4,832 shares of ChargePoint stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $33,775.68. Following the transaction, the insider directly owned 124,627 shares of the company’s stock, valued at $871,142.73. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mansi Khetani sold 3,943 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the completion of the transaction, the chief financial officer directly owned 130,363 shares of the company’s stock, valued at $911,237.37. This trade represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 12,670 shares of company stock worth $88,534. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Catalyst Funds Management Pty Ltd acquired a new position in ChargePoint in the 2nd quarter worth $161,000. XTX Topco Ltd raised its stake in shares of ChargePoint by 75.5% in the 2nd quarter. XTX Topco Ltd now owns 856,654 shares of the company’s stock valued at $602,000 after purchasing an additional 368,418 shares during the period. Soviero Asset Management LP acquired a new stake in shares of ChargePoint in the 2nd quarter valued at about $633,000. Perennial Investment Advisors LLC lifted its holdings in shares of ChargePoint by 36.8% in the second quarter. Perennial Investment Advisors LLC now owns 96,650 shares of the company’s stock valued at $68,000 after purchasing an additional 26,000 shares in the last quarter. Finally, EFG International AG bought a new stake in shares of ChargePoint in the fourth quarter valued at about $72,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Company Profile

(Get Free Report)

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.

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