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

Key Points

• Analysts give ChargePoint a consensus "Reduce" rating from 10 brokerages (3 sell, 6 hold, 1 buy) with an average 12‑month target of $8.625 and several large firms (Goldman Sachs, JPMorgan) cutting targets to around $5–$7.
• The stock recently opened at $6.40, has a market cap of $151.4M, a negative P/E (-0.69), and a 12‑month range of $4.44–$17.78 with 50/200‑day SMAs at $5.78/$7.28.
• CEO Richard Wilmer acquired 46,847 shares at about $5.34 (raising his stake ~10.09%), even as insiders sold modestly in the last 90 days and institutional ownership stands near 37.77%.

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have earned a consensus rating of "Reduce" from the ten brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.6250.

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reissued a "sell" rating and set a $5.00 price target on shares of ChargePoint in a research report on Thursday, January 15th. UBS Group dropped their price target on ChargePoint from $9.00 to $7.00 and set a "neutral" rating on the stock in a research report on Monday, March 16th. Weiss Ratings reissued a "sell (e+)" rating on shares of ChargePoint in a research report on Monday, April 20th. Wall Street Zen upgraded ChargePoint from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Finally, JPMorgan Chase & Co. lowered their price objective on ChargePoint from $8.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, March 5th.

ChargePoint Stock Performance

CHPT stock opened at $6.40 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 10.73. The firm has a market cap of $151.43 million, a P/E ratio of -0.69 and a beta of 1.68. ChargePoint has a 12-month low of $4.44 and a 12-month high of $17.78. The stock's 50 day simple moving average is $5.78 and its 200 day simple moving average is $7.28.

Insider Buying and Selling

In related news, CEO Richard Wilmer acquired 46,847 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was purchased at an average cost of $5.34 per share, for a total transaction of $250,162.98. Following the purchase, the chief executive officer directly owned 511,224 shares in the company, valued at $2,729,936.16. This represents a 10.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 8,685 shares of company stock worth $46,031. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth bought a new position in ChargePoint during the 1st quarter worth $27,000. Rothschild Investment LLC grew its stake in ChargePoint by 233.3% during the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company's stock worth $33,000 after buying an additional 3,500 shares during the last quarter. Corient Private Wealth LLC grew its stake in 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 buying an additional 24,470 shares during the last quarter. Pilgrim Partners Asia Pte Ltd grew its stake in ChargePoint by 56.4% during 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, R Squared Ltd bought a new position in ChargePoint during the 1st quarter worth $59,000. 37.77% of the stock is currently owned by institutional investors.

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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