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

Key Points

• ChargePoint Holdings, Inc. has received a consensus rating of "Reduce" from eleven analysts, with three selling ratings, seven holds, and only one buy rating.
• The average 12-month price target for ChargePoint shares is $13.56, while several analysts have recently lowered their price targets significantly, with TD Cowen setting it at $11.00.
• Insider activity shows a 1.88% decrease in ownership for insider John David Vice after selling 2,363 shares at an average price of $11.27.

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has been assigned an average recommendation of "Reduce" from the eleven analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $13.5556.

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ChargePoint in a research report on Wednesday, October 8th. TD Cowen lowered their price target on ChargePoint from $30.00 to $11.00 and set a "hold" rating on the stock in a research report on Thursday, September 4th. Royal Bank Of Canada lowered their price target on ChargePoint from $20.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 4th. JPMorgan Chase & Co. lowered their price target on ChargePoint from $9.00 to $8.00 and set an "underweight" rating on the stock in a research report on Thursday, September 4th. Finally, UBS Group set a $12.00 price target on ChargePoint and gave the company a "neutral" rating in a research report on Friday, September 19th.

Insider Activity

In other news, insider John David Vice sold 2,363 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $11.27, for a total value of $26,631.01. Following the sale, the insider directly owned 123,615 shares of the company's stock, valued at approximately $1,393,141.05. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 7,426 shares of company stock valued at $83,691 over the last 90 days. Company insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On ChargePoint

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in shares of ChargePoint in the second quarter valued at about $27,000. Focus Partners Wealth bought a new stake in shares of ChargePoint in the first quarter valued at about $27,000. Trueblood Wealth Management LLC lifted its stake in shares of ChargePoint by 100.0% in the second quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company's stock valued at $28,000 after buying an additional 20,000 shares during the period. Ethic Inc. bought a new stake in shares of ChargePoint in the second quarter valued at about $32,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of ChargePoint in the first quarter valued at about $33,000. Institutional investors own 37.77% of the company's stock.

ChargePoint Trading Up 8.1%

ChargePoint stock opened at $12.05 on Tuesday. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.67 and a quick ratio of 1.00. The company has a market capitalization of $281.37 million, a price-to-earnings ratio of -1.03 and a beta of 2.56. ChargePoint has a one year low of $8.55 and a one year high of $30.00. The company's fifty day moving average price is $11.12 and its two-hundred day moving average price is $12.38.

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.

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