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

Key Points

• ChargePoint Holdings, Inc. has received a consensus recommendation of "Reduce" from ten research firms, with two analysts advising sell, seven advising hold, and one advising buy.
• Recent target price revisions include a drop by Royal Bank of Canada from $20.00 to $10.00 and by Benchmark from $40.00 to $20.00, indicating declining confidence in the stock's performance.
• The company has a current market cap of $251.71 million and significant institutional ownership at 37.77%, with notable new stakes acquired in recent quarters.

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have received a consensus recommendation of "Reduce" from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $13.6667.

Several brokerages have recently commented on CHPT. Royal Bank Of Canada decreased their target price on ChargePoint from $20.00 to $10.00 and set a "sector perform" rating for the company in a research report on Thursday, September 4th. Benchmark decreased their target price on ChargePoint from $40.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, September 5th. JPMorgan Chase & Co. decreased their target price on ChargePoint from $9.00 to $8.00 and set an "underweight" rating for the company in a research report on Thursday, September 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a research report on Thursday, September 4th. Finally, Roth Capital set a $11.00 target price on ChargePoint and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd.

ChargePoint Stock Performance

CHPT opened at $10.78 on Friday. The firm has a market cap of $251.71 million, a PE ratio of -0.93 and a beta of 2.29. The business has a fifty day simple moving average of $11.17 and a 200-day simple moving average of $12.66. The company has a quick ratio of 1.00, a current ratio of 1.67 and a debt-to-equity ratio of 4.38. ChargePoint has a fifty-two week low of $8.55 and a fifty-two week high of $30.52.

Institutional Trading of ChargePoint

Institutional investors have recently bought and sold shares of the company. 111 Capital acquired a new stake in ChargePoint during the fourth quarter valued at $26,000. Perennial Advisors LLC acquired a new stake in ChargePoint during the fourth quarter valued at $26,000. International Assets Investment Management LLC acquired a new stake in ChargePoint during the second quarter valued at $27,000. Focus Partners Wealth acquired a new stake in ChargePoint during the first quarter valued at $27,000. Finally, Trueblood Wealth Management LLC boosted its position in ChargePoint by 100.0% during the second quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company's stock valued at $28,000 after purchasing an additional 20,000 shares during the last quarter. 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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