Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $13.56

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been given a consensus recommendation of “Reduce” by the eleven brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $13.5556.

Several brokerages recently weighed in on CHPT. Roth Capital set a $11.00 price objective on ChargePoint and gave the stock a “neutral” rating in a research report on Tuesday, September 2nd. Benchmark lowered their price target on ChargePoint from $40.00 to $20.00 and set a “buy” rating for the company in a report on Friday, September 5th. TD Cowen reduced their price objective on shares of ChargePoint from $30.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, September 4th. UBS Group set a $12.00 price target on shares of ChargePoint and gave the company a “neutral” rating in a research report on Friday, September 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a report on Wednesday, October 8th.

Insider Buying and Selling at ChargePoint

In related news, insider John David Vice sold 2,363 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $11.27, for a total value of $26,631.01. Following the sale, the insider owned 123,615 shares in the company, valued at approximately $1,393,141.05. The trade was a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 7,426 shares of company stock valued at $83,691 over the last ninety days. Insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several hedge funds have recently made changes to their positions in CHPT. International Assets Investment Management LLC purchased a new stake in ChargePoint during the 2nd quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of ChargePoint during the first quarter worth $109,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of ChargePoint in the second quarter valued at $98,000. Ethic Inc. acquired a new stake in shares of ChargePoint in the second quarter valued at $32,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in ChargePoint in the second quarter valued at $195,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Stock Performance

ChargePoint stock opened at $8.64 on Friday. The firm has a 50 day simple moving average of $10.78 and a 200-day simple moving average of $12.13. The stock has a market cap of $201.79 million, a price-to-earnings ratio of -0.74 and a beta of 2.55. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.67 and a quick ratio of 1.00. ChargePoint has a 1-year low of $8.55 and a 1-year high of $30.00.

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.