ChargePoint (NYSE:CHPT) PT Lowered to $1.50 at UBS Group

ChargePoint (NYSE:CHPT) had its price target reduced by UBS Group from $1.80 to $1.50 in a report issued on Tuesday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. Royal Bank of Canada lowered their price objective on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. downgraded ChargePoint from an “overweight” rating to an “underweight” rating in a report on Thursday, October 3rd. Wolfe Research initiated coverage on shares of ChargePoint in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. B. Riley upgraded ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Finally, TD Cowen downgraded shares of ChargePoint from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $3.00 to $2.00 in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.65.

ChargePoint Price Performance

Shares of ChargePoint stock opened at $1.34 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The firm has a fifty day moving average price of $1.53 and a two-hundred day moving average price of $1.66. ChargePoint has a fifty-two week low of $1.21 and a fifty-two week high of $3.61. The company has a market cap of $578.32 million, a PE ratio of -1.35 and a beta of 1.69.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. The company had revenue of $108.54 million for the quarter, compared to the consensus estimate of $114.15 million. Analysts expect that ChargePoint will post -0.56 EPS for the current year.

Insider Activity at ChargePoint

In related news, CAO Henrik Gerdes sold 26,288 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the transaction, the chief accounting officer now owns 390,596 shares of the company’s stock, valued at $515,586.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the sale, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Henrik Gerdes sold 26,288 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $1.32, for a total value of $34,700.16. Following the sale, the chief accounting officer now owns 390,596 shares in the company, valued at approximately $515,586.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,803 shares of company stock valued at $135,295. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHPT. CreativeOne Wealth LLC acquired a new stake in ChargePoint in the first quarter valued at $30,000. PDS Planning Inc bought a new position in shares of ChargePoint during the first quarter worth about $31,000. CIBC Asset Management Inc lifted its stake in shares of ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after acquiring an additional 5,770 shares during the period. Delap Wealth Advisory LLC acquired a new position in shares of ChargePoint in the second quarter worth approximately $31,000. Finally, Perennial Investment Advisors LLC boosted its holdings in ChargePoint by 74.4% in the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock valued at $37,000 after acquiring an additional 10,400 shares during the last quarter. 37.77% of the stock is currently 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.