Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) PT at $2.03

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given an average recommendation of “Hold” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $2.03.

A number of research analysts have recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus lowered their price target on ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada cut their price objective on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. UBS Group set a $1.50 target price on ChargePoint in a report on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th.

ChargePoint Price Performance

NYSE:CHPT opened at $0.62 on Friday. ChargePoint has a 52-week low of $0.56 and a 52-week high of $2.44. The company has a market cap of $273.81 million, a P/E ratio of -0.84 and a beta of 1.85. 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 stock’s 50-day simple moving average is $0.78 and its 200 day simple moving average is $1.08.

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

Hedge Funds Weigh In On ChargePoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 111 Capital acquired a new position in ChargePoint in the fourth quarter valued at about $26,000. Perennial Advisors LLC acquired a new position in shares of ChargePoint in the 4th quarter valued at approximately $26,000. Tidal Investments LLC lifted its holdings in shares of ChargePoint by 43.6% during the 4th quarter. Tidal Investments LLC now owns 466,751 shares of the company’s stock worth $499,000 after acquiring an additional 141,617 shares during the period. Toronto Dominion Bank acquired a new stake in shares of ChargePoint during the 4th quarter worth approximately $8,746,000. Finally, ProShare Advisors LLC increased its stake in ChargePoint by 51.9% in the fourth quarter. ProShare Advisors LLC now owns 111,447 shares of the company’s stock valued at $119,000 after acquiring an additional 38,094 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

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.