ChargePoint's (CHPT) "Sell (E+)" Rating Reiterated at Weiss Ratings

Key Points

• ChargePoint's stock has been given a "sell (E+)" rating by Weiss Ratings, as well as price targets ranging from $8.00 to $12.00 from various analysts.
• Insider trading activity includes a sale of 2,363 shares by John David Vice, representing a 1.88% decrease in his holdings.
• ChargePoint currently has an average stock rating of "Reduce" and a market capitalization of approximately $272.73 million.

ChargePoint (NYSE:CHPT - Get Free Report)'s stock had its "sell (e+)" rating reiterated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also commented on the company. UBS Group set a $12.00 price target on ChargePoint and gave the company a "neutral" rating in a research report on Friday, September 19th. Roth Capital set a $11.00 price objective on ChargePoint and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. TD Cowen decreased their price objective on ChargePoint from $30.00 to $11.00 and set a "hold" rating on the stock in a report on Thursday, September 4th. JPMorgan Chase & Co. dropped their price target on ChargePoint from $9.00 to $8.00 and set an "underweight" rating on the stock in a research report on Thursday, September 4th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Thursday, September 4th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, ChargePoint has an average rating of "Reduce" and an average target price of $13.56.

ChargePoint Price Performance

CHPT stock traded up $0.17 during midday trading on Wednesday, reaching $11.68. 316,593 shares of the stock were exchanged, compared to its average volume of 496,989. The stock has a market capitalization of $272.73 million, a PE ratio of -1.00 and a beta of 2.56. ChargePoint has a 52 week low of $8.55 and a 52 week high of $30.00. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.67 and a quick ratio of 1.00. The company has a fifty day moving average price of $10.98 and a 200 day moving average price of $12.42.

Insider Activity at ChargePoint

In other ChargePoint news, insider John David Vice sold 2,363 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $11.27, for a total transaction of $26,631.01. Following the completion of the transaction, the insider directly owned 123,615 shares in the company, valued at approximately $1,393,141.05. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 7,426 shares of company stock valued at $83,691 in the last ninety days. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On ChargePoint

A number of hedge funds have recently added to or reduced their stakes in CHPT. International Assets Investment Management LLC bought a new stake in ChargePoint during the 2nd quarter worth approximately $27,000. Focus Partners Wealth acquired a new position in ChargePoint in the first quarter valued at approximately $27,000. Trueblood Wealth Management LLC grew its holdings in ChargePoint by 100.0% during the second quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company's stock worth $28,000 after buying an additional 20,000 shares in the last quarter. Ethic Inc. purchased a new position in shares of ChargePoint during the 2nd quarter valued at $32,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of ChargePoint in the 1st quarter valued at about $33,000. 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.

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