ChargePoint Holdings, Inc. (NYSE:CHPT) Stake Raised by Millennium Management LLC

Millennium Management LLC increased its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) by 13,605.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,857,349 shares of the company's stock after acquiring an additional 2,836,500 shares during the quarter. Millennium Management LLC owned approximately 0.65% of ChargePoint worth $3,057,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ChargePoint by 16.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 247,827 shares of the company's stock valued at $265,000 after purchasing an additional 34,633 shares in the last quarter. Deutsche Bank AG increased its stake in shares of ChargePoint by 30.9% in the fourth quarter. Deutsche Bank AG now owns 592,315 shares of the company's stock worth $634,000 after buying an additional 139,809 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in ChargePoint in the fourth quarter valued at $27,000. Balyasny Asset Management L.P. acquired a new stake in ChargePoint in the fourth quarter valued at $256,000. Finally, Bayesian Capital Management LP bought a new position in ChargePoint during the 4th quarter valued at $93,000. Hedge funds and other institutional investors own 37.77% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CHPT. UBS Group dropped their target price on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Wednesday, March 5th. Stifel Nicolaus reduced their target price on ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Evercore ISI downgraded ChargePoint from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $4.00 to $1.00 in a report on Monday, March 31st. Finally, The Goldman Sachs Group dropped their price target on ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ChargePoint currently has an average rating of "Hold" and a consensus target price of $1.52.

ChargePoint Stock Performance

Shares of ChargePoint stock traded up $0.11 on Wednesday, reaching $0.89. 39,917,797 shares of the company were exchanged, compared to its average volume of 17,156,180. The firm has a market cap of $406.29 million, a price-to-earnings ratio of -1.20 and a beta of 2.25. ChargePoint Holdings, Inc. has a 1-year low of $0.51 and a 1-year high of $2.44. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. The company's 50-day moving average is $0.64 and its two-hundred day moving average is $0.85.

ChargePoint (NYSE:CHPT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). The company had revenue of $101.89 million for the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. As a group, research analysts expect that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

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.