ChargePoint (NYSE:CHPT) Raised to "Hold" at TD Cowen

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

A number of other equities analysts have also recently issued reports on CHPT. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Thursday, June 5th. Evercore ISI lowered ChargePoint from an "outperform" rating to an "in-line" rating and dropped their price objective for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Royal Bank Of Canada restated a "sector perform" rating and issued a $1.00 target price on shares of ChargePoint in a research note on Thursday, June 5th. UBS Group lowered their target price on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, The Goldman Sachs Group cut their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $1.39.

ChargePoint Stock Performance

Shares of CHPT traded down $0.02 on Monday, reaching $0.67. 16,652,621 shares of the stock traded hands, compared to its average volume of 17,574,670. The stock's 50-day moving average price is $0.71 and its 200-day moving average price is $0.76. 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 firm has a market cap of $305.39 million, a price-to-earnings ratio of -1.11 and a beta of 2.23. ChargePoint has a 12 month low of $0.51 and a 12 month high of $2.44.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its quarterly 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). ChargePoint had a negative net margin of 65.79% and a negative return on equity of 131.65%. The business had revenue of $97.64 million during the quarter, compared to the consensus estimate of $100.43 million. During the same period last year, the firm earned ($0.11) EPS. Equities analysts forecast that ChargePoint will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On ChargePoint

Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank acquired a new position in ChargePoint during the 4th quarter valued at about $8,746,000. Millennium Management LLC lifted its holdings in ChargePoint by 13,605.0% in the fourth quarter. Millennium Management LLC now owns 2,857,349 shares of the company's stock valued at $3,057,000 after buying an additional 2,836,500 shares during the period. AQR Capital Management LLC boosted its stake in ChargePoint by 6,429.1% in the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company's stock valued at $1,553,000 after acquiring an additional 2,638,182 shares during the last quarter. GMT Capital Corp acquired a new stake in ChargePoint during the 1st quarter worth $1,226,000. Finally, Goldman Sachs Group Inc. grew its holdings in ChargePoint by 61.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company's stock worth $2,293,000 after acquiring an additional 1,448,114 shares during the period. 37.77% of the stock is owned by institutional investors.

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.