ChargePoint Holdings, Inc. (NYSE:CHPT) Given Average Rating of "Hold" by Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has earned an average recommendation of "Hold" from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $1.52.

A number of brokerages have issued reports on CHPT. Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a research note on Wednesday, March 5th. Evercore ISI lowered ChargePoint from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. The Goldman Sachs Group decreased their price objective on ChargePoint from $0.75 to $0.50 and set a "sell" rating for the company in a research note on Thursday, April 10th. UBS Group cut their target price on ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Stifel Nicolaus decreased their target price on ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a research report on Monday, March 10th.

ChargePoint Trading Down 4.5 %

CHPT traded down $0.03 during mid-day trading on Tuesday, reaching $0.63. The stock had a trading volume of 6,202,239 shares, compared to its average volume of 17,187,020. The firm's fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.95. The stock has a market capitalization of $286.51 million, a P/E ratio of -0.84 and a beta of 2.05. ChargePoint has a 52 week low of $0.51 and a 52 week high of $2.44. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $101.89 million during the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. On average, equities analysts predict that ChargePoint will post -0.57 EPS for the current year.

Institutional Trading of ChargePoint

Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank acquired a new stake in ChargePoint in the 4th quarter valued at approximately $8,746,000. Millennium Management LLC increased its stake in shares of ChargePoint by 13,605.0% during the 4th quarter. Millennium Management LLC now owns 2,857,349 shares of the company's stock worth $3,057,000 after purchasing an additional 2,836,500 shares during the last quarter. Invesco Ltd. raised its stake in ChargePoint by 13.1% in the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company's stock valued at $5,382,000 after buying an additional 583,761 shares during the period. Geode Capital Management LLC increased its holdings in shares of ChargePoint by 4.6% in the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company's stock valued at $12,432,000 after purchasing an additional 399,070 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in ChargePoint by 124.0% in the 4th quarter. XTX Topco Ltd now owns 691,636 shares of the company's stock valued at $740,000 after acquiring an additional 382,850 shares during the period. 37.77% of the stock is currently owned by institutional investors.

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.