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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have been assigned an average recommendation of "Hold" from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $1.52.

Several research analysts have recently commented on CHPT shares. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research note on Wednesday, March 5th. Stifel Nicolaus lowered their price objective on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a research note on Monday, March 10th. The Goldman Sachs Group lowered their price objective on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating for the company in a research note on Thursday, April 10th. Evercore ISI lowered shares of ChargePoint from an "outperform" rating to an "in-line" rating and lowered their price objective for the company from $4.00 to $1.00 in a research note on Monday, March 31st. Finally, UBS Group lowered their price objective on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a research note on Thursday, April 17th.

ChargePoint Trading Up 3.7%

Shares of CHPT stock opened at $0.71 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. The firm has a market cap of $324.41 million, a PE ratio of -0.96 and a beta of 2.22. The company has a 50-day moving average of $0.63 and a two-hundred day moving average of $0.89. ChargePoint has a 1-year low of $0.51 and a 1-year high of $2.44.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 business had revenue of $101.89 million during the quarter, compared to analysts' expectations of $100.99 million. On average, analysts predict that ChargePoint will post -0.57 EPS for the current year.

Institutional Trading of ChargePoint

Several hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in ChargePoint by 61.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company's stock valued at $2,293,000 after acquiring an additional 1,448,114 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ChargePoint by 14.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 283,924 shares of the company's stock worth $172,000 after buying an additional 36,097 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of ChargePoint by 2,885.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 461,771 shares of the company's stock worth $279,000 after buying an additional 446,302 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of ChargePoint by 6,429.1% during the 1st quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company's stock worth $1,553,000 after buying an additional 2,638,182 shares during the last quarter. Finally, Alamea Verwaltungs GmbH purchased a new stake in shares of ChargePoint during the 1st quarter worth approximately $437,000. Institutional investors and hedge funds own 37.77% of the company's stock.

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.

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