ChargePoint (NYSE:CHPT) Stock Rating Upgraded by Capital One Financial

ChargePoint (NYSE:CHPT) was upgraded by stock analysts at Capital One Financial to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other research firms have also recently weighed in on CHPT. Evercore ISI lowered their price objective on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. B. Riley raised ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Benchmark restated a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a report on Thursday, September 5th. Wolfe Research started coverage on shares of ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group cut their price target on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.39.

ChargePoint Trading Down 4.0 %

NYSE:CHPT opened at $1.45 on Tuesday. The firm has a 50 day moving average of $1.80 and a 200 day moving average of $1.72. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. ChargePoint has a 52 week low of $1.21 and a 52 week high of $5.49. The stock has a market capitalization of $625.79 million, a price-to-earnings ratio of -1.23 and a beta of 1.70.

Insider Activity

In related news, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Richard Wilmer sold 27,722 shares of ChargePoint stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $38,810.80. Following the sale, the chief executive officer now directly owns 2,331,740 shares of the company’s stock, valued at $3,264,436. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at $563,490.20. The disclosure for this sale can be found here. Insiders have sold 51,503 shares of company stock worth $72,104 in the last quarter. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several large investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new position in shares of ChargePoint during the 1st quarter worth approximately $258,000. Vanguard Group Inc. lifted its position in ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after buying an additional 7,645,210 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in ChargePoint by 6.1% during the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after buying an additional 7,838 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in ChargePoint in the 1st quarter valued at $30,000. Finally, Tidal Investments LLC increased its stake in shares of ChargePoint by 58.8% in the 1st quarter. Tidal Investments LLC now owns 333,866 shares of the company’s stock worth $634,000 after acquiring an additional 123,597 shares during the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

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.