Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $2.46

ChargePoint Holdings, Inc. (NYSE:CHPT) has earned an average rating of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $2.46.

CHPT has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 5th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Finally, UBS Group cut their target price on shares of ChargePoint from $1.50 to $1.30 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th.

Insider Buying and Selling

In related news, CAO Henrik Gerdes sold 28,536 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $32,531.04. Following the completion of the sale, the chief accounting officer now directly owns 362,060 shares of the company’s stock, valued at approximately $412,748.40. This represents a 7.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jagdeep Ca Singh sold 36,574 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $41,694.36. Following the completion of the transaction, the insider now owns 1,161,430 shares of the company’s stock, valued at $1,324,030.20. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,148 shares of company stock valued at $99,349 in the last 90 days. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its position in ChargePoint by 41.4% during the 2nd quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock worth $39,000 after acquiring an additional 7,723 shares during the last quarter. PFG Investments LLC boosted its holdings in ChargePoint by 32.2% during the second quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock worth $51,000 after purchasing an additional 8,297 shares during the last quarter. Jeppson Wealth Management LLC grew its position in ChargePoint by 28.3% in the third quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock valued at $59,000 after purchasing an additional 9,480 shares in the last quarter. JPMorgan Chase & Co. increased its stake in ChargePoint by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after buying an additional 9,519 shares during the last quarter. Finally, Perennial Investment Advisors LLC lifted its position in ChargePoint by 74.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock worth $37,000 after buying an additional 10,400 shares in the last quarter. 37.77% of the stock is owned by institutional investors.

ChargePoint Stock Down 0.5 %

Shares of NYSE:CHPT opened at $1.05 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The firm has a market cap of $462.25 million, a P/E ratio of -1.41 and a beta of 1.70. ChargePoint has a 12 month low of $1.02 and a 12 month high of $2.44. The company’s 50-day moving average price is $1.17 and its two-hundred day moving average price is $1.46.

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.