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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have been given an average rating of "Hold" by the eleven brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $1.39.

A number of brokerages have commented on CHPT. Royal Bank Of Canada restated a "sector perform" rating and set a $1.00 price objective on shares of ChargePoint in a research report on Thursday, June 5th. Stifel Nicolaus lowered their price target on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a research note on Monday, March 10th. Evercore ISI cut shares of ChargePoint from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group lowered their price target on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research note on Thursday, April 10th.

Hedge Funds Weigh In On ChargePoint

Several hedge funds have recently added to or reduced their stakes in CHPT. Bank of New York Mellon Corp increased its holdings in ChargePoint by 12.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,231,255 shares of the company's stock valued at $1,317,000 after acquiring an additional 141,053 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock worth $48,000 after purchasing an additional 17,075 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ChargePoint by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company's stock worth $3,570,000 after purchasing an additional 85,516 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ChargePoint during the 4th quarter worth about $354,000. Finally, Callan Family Office LLC acquired a new stake in shares of ChargePoint during the 4th quarter worth about $45,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Stock Performance

ChargePoint stock traded up $0.01 during trading hours on Friday, reaching $0.72. 5,437,313 shares of the stock were exchanged, compared to its average volume of 17,479,111. The stock has a market cap of $328.07 million, a P/E ratio of -1.19 and a beta of 2.23. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.12 and a current ratio of 1.82. ChargePoint has a 52-week low of $0.51 and a 52-week high of $2.44. The firm's 50 day moving average is $0.70 and its 200 day moving average is $0.78.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The firm had revenue of $97.64 million for the quarter, compared to analysts' expectations of $100.43 million. ChargePoint had a negative return on equity of 131.65% and a negative net margin of 65.79%. During the same quarter in the previous year, the company posted ($0.11) EPS. Analysts predict that ChargePoint will post -0.57 EPS for the current fiscal year.

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.