Two Sigma Investments LP Cuts Stock Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

Two Sigma Investments LP lowered its position in ChargePoint Holdings, Inc. (NYSE:CHPT - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,294 shares of the company's stock after selling 553,764 shares during the period. Two Sigma Investments LP's holdings in ChargePoint were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CHPT. Bank of New York Mellon Corp boosted its position in ChargePoint by 12.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,231,255 shares of the company's stock valued at $1,317,000 after buying an additional 141,053 shares during the period. LGL Partners LLC bought a new stake in shares of ChargePoint during the fourth quarter valued at approximately $75,000. NCP Inc. boosted its holdings in shares of ChargePoint by 210.9% in the fourth quarter. NCP Inc. now owns 62,500 shares of the company's stock valued at $67,000 after purchasing an additional 42,400 shares during the period. Jones Financial Companies Lllp grew its stake in ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock worth $48,000 after purchasing an additional 17,075 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in ChargePoint by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company's stock worth $3,570,000 after purchasing an additional 85,516 shares during the period. Hedge funds and other institutional investors own 37.77% of the company's stock.

ChargePoint Stock Performance

CHPT traded up $0.01 during trading on Monday, reaching $0.72. 13,493,579 shares of the company's stock were exchanged, compared to its average volume of 17,477,952. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. ChargePoint Holdings, Inc. has a 1 year low of $0.51 and a 1 year high of $2.44. The company's fifty day simple moving average is $0.67 and its 200-day simple moving average is $0.83. The stock has a market capitalization of $329.90 million, a P/E ratio of -0.97 and a beta of 2.25.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $97.64 million during the quarter, compared to analysts' expectations of $100.43 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. During the same period in the previous year, the company posted ($0.11) earnings per share. As a group, research analysts predict that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group lowered their target price on ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a report on Thursday, April 17th. Stifel Nicolaus dropped their target price on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Royal Bank of Canada restated a "sector perform" rating and issued a $1.00 price target on shares of ChargePoint in a report on Thursday, June 5th. The Goldman Sachs Group dropped their price objective on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a report on Thursday, June 5th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $1.39.

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.