ChargePoint (NYSE:CHPT) Upgraded at Capital One Financial

Capital One Financial upgraded shares of ChargePoint (NYSE:CHPT) to a strong-buy rating in a research report report published on Tuesday, Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Benchmark reiterated a buy rating and issued a $3.00 price target on shares of ChargePoint in a research report on Thursday, September 5th. Wolfe Research assumed coverage on ChargePoint in a report on Thursday, September 5th. They set a peer perform rating on the stock. Evercore ISI dropped their price objective on ChargePoint from $6.00 to $4.00 and set an outperform rating for the company in a research note on Thursday, September 5th. Needham & Company LLC decreased their target price on ChargePoint from $3.00 to $2.00 and set a buy rating on the stock in a research note on Thursday, September 5th. Finally, TD Cowen lowered shares of ChargePoint from a buy rating to a hold rating and cut their price objective for the company from $3.00 to $2.00 in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $3.39.

ChargePoint Trading Down 2.1 %

Shares of CHPT opened at $1.42 on Tuesday. ChargePoint has a 52 week low of $1.21 and a 52 week high of $5.49. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. The business has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $1.72.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in ChargePoint in the second quarter worth $13,007,000. Vanguard Group Inc. lifted its holdings in shares of ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after acquiring an additional 7,645,210 shares during the last quarter. Norges Bank purchased a new position in shares of ChargePoint during the 4th quarter worth about $9,733,000. AQR Capital Management LLC bought a new position in ChargePoint during the 2nd quarter valued at about $1,310,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in ChargePoint by 62.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock worth $2,452,000 after purchasing an additional 621,536 shares during the period. Hedge funds and other institutional investors own 37.77% of the company’s stock.

About ChargePoint

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.