UBS Group Cuts ChargePoint (NYSE:CHPT) Price Target to $1.50

by · The Markets Daily

ChargePoint (NYSE:CHPT – Free Report) had its target price cut by UBS Group from $1.80 to $1.50 in a research report report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. downgraded ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd. Wolfe Research began coverage on ChargePoint in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Benchmark restated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Thursday, September 5th. The Goldman Sachs Group reduced their price target on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. Finally, TD Cowen downgraded shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $3.00 to $2.00 in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and a consensus price target of $2.65.

View Our Latest Stock Report on ChargePoint

ChargePoint Trading Up 1.9 %

NYSE:CHPT opened at $1.36 on Tuesday. The company’s 50 day moving average is $1.52 and its 200-day moving average is $1.65. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. ChargePoint has a 12 month low of $1.21 and a 12 month high of $3.54. The firm has a market cap of $573.65 million, a price-to-earnings ratio of -1.15 and a beta of 1.69.

ChargePoint (NYSE:CHPT – Get Free Report) last posted its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $108.54 million for the quarter, compared to analyst estimates of $114.15 million. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. Equities analysts anticipate that ChargePoint will post -0.56 EPS for the current year.

Insider Activity

In other ChargePoint news, CEO Richard Wilmer sold 27,252 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the transaction, the chief executive officer now directly owns 2,304,489 shares in the company, valued at $3,111,060.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ChargePoint news, CEO Richard Wilmer sold 27,252 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the sale, the chief executive officer now directly owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mansi Khetani sold 23,409 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the sale, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,803 shares of company stock worth $135,295. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHPT. CreativeOne Wealth LLC acquired a new position in shares of ChargePoint during the first quarter valued at $30,000. PDS Planning Inc bought a new stake in ChargePoint during the 1st quarter worth about $31,000. CIBC Asset Management Inc lifted its position in ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares during the period. Delap Wealth Advisory LLC bought a new position in shares of ChargePoint in the 2nd quarter valued at about $31,000. Finally, Perennial Investment Advisors LLC grew its position in shares of 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 during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Company Profile

(Get Free Report)

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.

Recommended Stories