ChargePoint (NYSE:CHPT) Earns “Hold” Rating from Needham & Company LLC

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

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

ChargePoint Price Performance

Shares of NYSE CHPT opened at $0.72 on Wednesday. ChargePoint has a fifty-two week low of $0.56 and a fifty-two week high of $2.44. The firm’s 50-day simple moving average is $0.93 and its 200 day simple moving average is $1.20. 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 market cap of $319.81 million, a P/E ratio of -0.98 and a beta of 1.70.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share 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 the consensus estimate of $100.99 million. Equities analysts expect that ChargePoint will post -0.57 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jeppson Wealth Management LLC grew its stake in ChargePoint by 28.3% during the 3rd quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock valued at $59,000 after acquiring an additional 9,480 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ChargePoint by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after buying an additional 9,519 shares during the last quarter. Creative Planning lifted its holdings in shares of ChargePoint by 8.8% during the 3rd quarter. Creative Planning now owns 205,008 shares of the company’s stock valued at $281,000 after buying an additional 16,645 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock valued at $48,000 after buying an additional 17,075 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of ChargePoint by 2.2% during the 4th quarter. Swiss National Bank now owns 806,400 shares of the company’s stock valued at $863,000 after buying an additional 17,600 shares during the last quarter. 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.