ChargePoint (NYSE:CHPT) Stock Rating Reaffirmed by The Goldman Sachs Group

ChargePoint (NYSE:CHPT - Get Free Report)'s stock had its "sell" rating reiterated by analysts at The Goldman Sachs Group in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $1.50 target price on the stock, down from their previous target price of $2.00. The Goldman Sachs Group's price target would indicate a potential downside of 15.25% from the stock's current price.

CHPT has been the subject of several other reports. Oppenheimer restated a "market perform" rating on shares of ChargePoint in a research report on Wednesday, March 6th. Benchmark reaffirmed a "buy" rating and set a $4.25 target price on shares of ChargePoint in a research note on Wednesday, March 6th. R. F. Lafferty lowered their target price on shares of ChargePoint from $4.00 to $3.00 and set a "hold" rating for the company in a research note on Wednesday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $3.00 target price on shares of ChargePoint in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $3.00 target price (down previously from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.14.

ChargePoint Stock Performance

Shares of CHPT stock traded down $0.08 during trading hours on Tuesday, hitting $1.77. The company's stock had a trading volume of 17,925,440 shares, compared to its average volume of 14,730,335. The company has a 50 day moving average of $1.94 and a 200 day moving average of $2.46. ChargePoint has a 12-month low of $1.56 and a 12-month high of $10.10. The stock has a market cap of $739.91 million, a PE ratio of -1.43 and a beta of 1.62. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.01. The company had revenue of $115.83 million during the quarter, compared to analysts' expectations of $126.48 million. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. On average, sell-side analysts forecast that ChargePoint will post -0.63 EPS for the current fiscal year.

Insider Activity at ChargePoint

In other ChargePoint news, Director Michael Linse sold 100,000 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the sale, the director now directly owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the sale, the chief financial officer now directly owns 421,500 shares in the company, valued at approximately $788,205. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Linse sold 100,000 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the sale, the director now owns 1,209,867 shares in the company, valued at $2,347,141.98. The disclosure for this sale can be found here. Insiders have sold a total of 154,846 shares of company stock worth $296,562 in the last three months. Insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently made changes to their positions in CHPT. Bank of New York Mellon Corp boosted its position in shares of ChargePoint by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 652,385 shares of the company's stock worth $12,969,000 after buying an additional 48,903 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of ChargePoint by 46.4% in the 1st quarter. HighTower Advisors LLC now owns 30,579 shares of the company's stock worth $610,000 after buying an additional 9,689 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of ChargePoint by 152.8% in the 1st quarter. Private Advisor Group LLC now owns 35,608 shares of the company's stock worth $708,000 after buying an additional 21,524 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of ChargePoint in the 1st quarter worth about $213,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of ChargePoint in the 1st quarter worth about $91,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.