Two Sigma Securities LLC Lowers Holdings in ChargePoint Holdings, Inc. (NYSE:CHPT)

Two Sigma Securities LLC lowered its holdings in ChargePoint Holdings, Inc. (NYSE:CHPT) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,612 shares of the company’s stock after selling 18,035 shares during the quarter. Two Sigma Securities LLC’s holdings in ChargePoint were worth $56,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. acquired a new stake in ChargePoint in the 3rd quarter valued at approximately $117,000. JPMorgan Chase & Co. raised its holdings in shares of 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 period. Inspire Investing LLC lifted its stake in ChargePoint by 25.1% during the 4th quarter. Inspire Investing LLC now owns 375,860 shares of the company’s stock worth $402,000 after acquiring an additional 75,362 shares in the last quarter. Strategic Investment Advisors MI purchased a new position in ChargePoint during the 4th quarter valued at about $46,000. Finally, Jeppson Wealth Management LLC grew its position in ChargePoint by 32.8% in the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company’s stock valued at $61,000 after acquiring an additional 14,085 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Down 1.5 %

CHPT stock opened at $0.62 on Friday. The stock has a market cap of $282.44 million, a P/E ratio of -0.83 and a beta of 2.05. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. ChargePoint Holdings, Inc. has a twelve month low of $0.51 and a twelve month high of $2.44. The company’s 50 day moving average is $0.63 and its two-hundred day moving average is $0.94.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. Research analysts expect that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHPT. UBS Group lowered their price objective on shares of ChargePoint from $0.70 to $0.65 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Wednesday, March 5th. Evercore ISI cut ChargePoint from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $4.00 to $1.00 in a research note on Monday, March 31st. The Goldman Sachs Group lowered their target price on ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a research note on Thursday, April 10th. Finally, Stifel Nicolaus decreased their price objective on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ChargePoint has a consensus rating of “Hold” and a consensus target price of $1.52.

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.