ChargePoint (NYSE:CHPT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded ChargePoint (NYSE:CHPT) from a "sell" to a "hold", but several major firms have cut price targets and MarketBeat shows a consensus rating of "Reduce" with a consensus target price of $8.63.
• Shares opened at $5.10 (down ~2%), with a market capitalization of $120.5 million, a negative P/E (−0.55), and 50‑day / 200‑day moving averages of $5.63 and $7.75, indicating weak near‑term momentum.
• ChargePoint is a leading provider of EV charging hardware, software and services, operating one of the largest open charging networks and offering cloud-based management and driver access tools.

ChargePoint (NYSE:CHPT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Several other equities research analysts have also recently weighed in on CHPT. Weiss Ratings restated a "sell (e+)" rating on shares of ChargePoint in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price objective on shares of ChargePoint from $8.00 to $5.00 and set an "underweight" rating for the company in a research report on Thursday, March 5th. Royal Bank Of Canada lowered their price objective on shares of ChargePoint from $9.00 to $6.50 and set a "sector perform" rating for the company in a research report on Thursday, March 5th. UBS Group lowered their price objective on shares of ChargePoint from $9.00 to $7.00 and set a "neutral" rating for the company in a research report on Monday, March 16th. Finally, B. Riley Financial lowered their price objective on shares of ChargePoint from $11.00 to $6.00 and set a "neutral" rating for the company in a research report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $8.63.

ChargePoint Trading Down 2.0%

Shares of ChargePoint stock opened at $5.10 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.20 and a debt-to-equity ratio of 10.73. The stock has a market capitalization of $120.50 million, a P/E ratio of -0.55 and a beta of 1.48. ChargePoint has a 12-month low of $4.44 and a 12-month high of $17.78. The company has a 50-day simple moving average of $5.63 and a 200 day simple moving average of $7.75.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently modified their holdings of the business. Rothschild Investment LLC grew its position in shares of ChargePoint by 233.3% during the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company's stock worth $33,000 after buying an additional 3,500 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of ChargePoint during the 3rd quarter worth approximately $60,000. Hsbc Holdings PLC acquired a new stake in shares of ChargePoint during the 4th quarter worth approximately $73,000. EFG International AG acquired a new stake in shares of ChargePoint during the 4th quarter worth approximately $72,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of ChargePoint during the 4th quarter worth approximately $125,000. Institutional investors and hedge funds own 37.77% of the company's stock.

About ChargePoint

ChargePoint NYSE: CHPT is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company's portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint's integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.

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