ChargePoint's (CHPT) "Hold" Rating Reiterated at Needham & Company LLC

ChargePoint (NYSE:CHPT - Get Free Report)'s stock had its "hold" rating reiterated by stock analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports.

CHPT has been the subject of several other reports. 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. Evercore ISI cut ChargePoint from an "outperform" rating to an "in-line" rating and cut their target price for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Stifel Nicolaus decreased their price target on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. Finally, UBS Group reduced their price objective on ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $1.39.

ChargePoint Stock Up 9.9%

Shares of ChargePoint stock traded up $0.07 during trading hours on Thursday, reaching $0.74. 29,688,340 shares of the company's stock were exchanged, compared to its average volume of 17,320,702. The stock has a market cap of $340.76 million, a P/E ratio of -1.00 and a beta of 2.25. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. The company has a 50 day moving average of $0.65 and a two-hundred day moving average of $0.85. ChargePoint has a fifty-two week low of $0.51 and a fifty-two week high of $2.44.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The company had revenue of $97.64 million during the quarter, compared to the consensus estimate of $100.43 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. During the same period last year, the company posted ($0.11) EPS. On average, sell-side analysts forecast that ChargePoint will post -0.57 EPS for the current fiscal year.

Institutional Trading of ChargePoint

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank purchased a new stake in shares of ChargePoint during the 4th quarter worth $8,746,000. Millennium Management LLC increased its position in ChargePoint by 13,605.0% during the fourth quarter. Millennium Management LLC now owns 2,857,349 shares of the company's stock worth $3,057,000 after purchasing an additional 2,836,500 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of ChargePoint by 6,429.1% during the 1st quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company's stock worth $1,553,000 after purchasing an additional 2,638,182 shares during the period. GMT Capital Corp purchased a new position in shares of ChargePoint in the 1st quarter valued at $1,226,000. Finally, Goldman Sachs Group Inc. lifted its position 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 in the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

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.