ChargePoint’s (CHPT) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of ChargePoint (NYSE:CHPT) in a report released on Thursday,Benzinga reports.

Several other research analysts have also commented on CHPT. Stifel Nicolaus dropped their price target on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Monday, March 10th. The Goldman Sachs Group dropped their price target on ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a research report on Thursday, April 10th. UBS Group dropped their price target on ChargePoint from $0.70 to $0.65 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, Evercore ISI lowered ChargePoint from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $1.39.

ChargePoint Trading Up 9.9%

NYSE:CHPT opened at $0.74 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. The firm has a market capitalization of $340.76 million, a price-to-earnings ratio of -1.00 and a beta of 2.25. ChargePoint has a one year low of $0.51 and a one year high of $2.44. The business has a fifty day moving average price of $0.65 and a 200-day moving average price of $0.84.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Wednesday, June 4th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. The firm had revenue of $97.64 million for the quarter, compared to analysts’ expectations of $100.43 million. During the same quarter in the previous year, the business earned ($0.11) EPS. Sell-side analysts forecast that ChargePoint will post -0.57 EPS for the current year.

Institutional Trading of ChargePoint

Institutional investors and hedge funds have recently modified their holdings of the stock. Perennial Advisors LLC bought a new stake in shares of ChargePoint during the fourth quarter valued at approximately $26,000. 111 Capital bought a new stake in shares of ChargePoint during the fourth quarter valued at approximately $26,000. Brevan Howard Capital Management LP bought a new stake in shares of ChargePoint during the fourth quarter valued at approximately $27,000. Cibc World Markets Corp bought a new stake in shares of ChargePoint during the fourth quarter valued at approximately $40,000. Finally, Callan Family Office LLC bought a new stake in shares of ChargePoint during the fourth quarter valued at approximately $45,000. Institutional investors own 37.77% of the company’s stock.

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.