B. Riley Financial Lowers ChargePoint (NYSE:CHPT) Price Target to $6.00

Key Points

• B. Riley Financial cut its price target on ChargePoint from $11 to $6 and maintained a "neutral" rating, implying roughly a 14% upside from the stock's previous close.
• Analyst sentiment skews cautious — MarketBeat shows an average rating of "Reduce" with a $10.11 consensus target and a mix of 1 Buy, 7 Hold and 3 Sell, while firms including Goldman, JPMorgan and UBS have trimmed targets or reiterated cautious views.
• CHPT is trading near its 12‑month low at about $5.26 (market cap ~$124M), and insiders have been selling recently — 12,670 shares sold in the last three months, with insiders owning roughly 3.5% of the company.

ChargePoint (NYSE:CHPT - Get Free Report) had its price objective dropped by equities research analysts at B. Riley Financial from $11.00 to $6.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. B. Riley Financial's price target indicates a potential upside of 14.18% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of ChargePoint in a report on Wednesday, January 21st. Roth Mkm set a $8.50 price objective on shares of ChargePoint and gave the company a "neutral" rating in a report on Friday, December 5th. UBS Group restated a "neutral" rating and issued a $9.00 target price (down from $12.00) on shares of ChargePoint in a research report on Monday, December 22nd. The Goldman Sachs Group restated a "sell" rating and set a $5.00 price target on shares of ChargePoint in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ChargePoint from $8.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $10.11.

ChargePoint Stock Performance

CHPT stock traded down $0.12 on Friday, hitting $5.26. The company had a trading volume of 221,013 shares, compared to its average volume of 493,541. The stock has a market cap of $124.28 million, a price-to-earnings ratio of -0.56 and a beta of 1.40. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 8.38. The stock's 50-day simple moving average is $6.35 and its 200 day simple moving average is $8.59. ChargePoint has a 12-month low of $5.25 and a 12-month high of $17.78.

Insider Activity

In other news, CFO Mansi Khetani sold 3,943 shares of ChargePoint stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total value of $27,561.57. Following the transaction, the chief financial officer owned 130,363 shares in the company, valued at approximately $911,237.37. This trade represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jagdeep Ca Singh sold 4,832 shares of the company's stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $33,775.68. Following the transaction, the insider owned 124,627 shares of the company's stock, valued at approximately $871,142.73. This represents a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 12,670 shares of company stock worth $88,534. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On ChargePoint

Hedge funds have recently added to or reduced their stakes in the stock. Focus Partners Wealth bought a new position in shares of ChargePoint in the first quarter worth approximately $27,000. Rothschild Investment LLC grew its stake in shares of ChargePoint by 233.3% in the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company's stock worth $33,000 after purchasing an additional 3,500 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of ChargePoint by 57.1% during the 2nd quarter. Corient Private Wealth LLC now owns 67,345 shares of the company's stock worth $47,000 after acquiring an additional 24,470 shares during the period. Pilgrim Partners Asia Pte Ltd grew its stake in shares of ChargePoint by 56.4% in the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company's stock worth $57,000 after buying an additional 3,100 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of ChargePoint in the second quarter worth $66,000. Institutional investors and hedge funds own 37.77% of the company's stock.

ChargePoint Company Profile

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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