ChargePoint (NYSE:CHPT) Upgraded by TD Cowen to "Hold" Rating

ChargePoint (NYSE:CHPT - Get Free Report) was upgraded by equities research analysts at TD Cowen to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a research note on Thursday, June 5th. The Goldman Sachs Group cut their price objective on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating for the company in a report on Thursday, April 10th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $1.00 price objective on shares of ChargePoint in a report on Thursday, June 5th. Finally, UBS Group cut their price target on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ChargePoint currently has an average rating of "Hold" and an average price target of $1.39.

ChargePoint Price Performance

Shares of CHPT stock traded up $0.00 during trading hours on Monday, hitting $0.70. The stock had a trading volume of 15,274,728 shares, compared to its average volume of 17,460,676. ChargePoint has a one year low of $0.51 and a one year high of $2.44. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.82 and a quick ratio of 1.12. The stock's 50-day moving average price is $0.70 and its two-hundred day moving average price is $0.77. The stock has a market capitalization of $319.92 million, a price-to-earnings ratio of -1.16 and a beta of 2.23.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $97.64 million for the quarter, compared to analysts' expectations of $100.43 million. ChargePoint had a negative net margin of 65.79% and a negative return on equity of 131.65%. During the same quarter last year, the firm earned ($0.11) EPS. Equities analysts forecast that ChargePoint will post -0.57 EPS for the current year.

Institutional Investors Weigh In On ChargePoint

Large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock valued at $48,000 after acquiring an additional 17,075 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of ChargePoint by 9.8% during the 4th quarter. MetLife Investment Management LLC now owns 251,168 shares of the company's stock worth $269,000 after buying an additional 22,369 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ChargePoint during the 4th quarter worth about $354,000. Invesco Ltd. raised its position in shares of ChargePoint by 13.1% during the 4th quarter. Invesco Ltd. now owns 5,029,849 shares of the company's stock worth $5,382,000 after buying an additional 583,761 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of ChargePoint in the 4th quarter worth approximately $268,000. Institutional investors and hedge funds own 37.77% of the company's stock.

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.