ChargePoint (NYSE:CHPT) Upgraded at TD Cowen

ChargePoint (NYSE:CHPT - Get Free Report) was upgraded by 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 analysts also recently weighed in on CHPT. Stifel Nicolaus dropped their target price on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a research note on Monday, March 10th. Evercore ISI downgraded shares of ChargePoint from an "outperform" rating to an "in-line" rating and dropped their price target for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research note on Thursday, June 5th. Royal Bank Of Canada restated a "sector perform" rating and set a $1.00 price objective on shares of ChargePoint in a report on Thursday, June 5th. Finally, UBS Group decreased their price objective 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 given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $1.39.

ChargePoint Price Performance

Shares of NYSE CHPT traded up $0.00 during trading on Monday, reaching $0.70. The company had a trading volume of 5,770,064 shares, compared to its average volume of 20,814,246. ChargePoint has a 52 week low of $0.51 and a 52 week high of $2.44. The stock has a market cap of $320.28 million, a PE ratio of -1.16 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. The business's 50 day moving average price is $0.70 and its 200-day moving average price is $0.77.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in ChargePoint by 12.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,231,255 shares of the company's stock worth $1,317,000 after acquiring an additional 141,053 shares in the last quarter. Jones Financial Companies Lllp raised its position in ChargePoint by 61.1% during the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock worth $48,000 after acquiring an additional 17,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in ChargePoint by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company's stock worth $3,570,000 after acquiring an additional 85,516 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ChargePoint during the fourth quarter worth $354,000. Finally, Callan Family Office LLC bought a new stake in ChargePoint during the fourth quarter worth $45,000. 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.