Stifel Nicolaus Issues Pessimistic Forecast for ChargePoint (NYSE:CHPT) Stock Price

ChargePoint (NYSE:CHPT) had its price target lowered by equities researchers at Stifel Nicolaus from $3.00 to $2.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 66.67% from the stock’s current price.

Several other research firms have also recently commented on CHPT. UBS Group cut their price target on ChargePoint from $1.80 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. TD Cowen lowered shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their price target for the stock from $3.00 to $2.00 in a research note on Thursday, September 5th. Needham & Company LLC reduced their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Capital One Financial raised ChargePoint to a “strong-buy” rating in a report on Tuesday, September 17th. Finally, Wolfe Research started coverage on ChargePoint in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.61.

ChargePoint Stock Performance

CHPT stock opened at $1.20 on Wednesday. The company has a fifty day moving average price of $1.43 and a 200 day moving average price of $1.62. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. ChargePoint has a 12 month low of $1.20 and a 12 month high of $3.54.

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

Insider Transactions at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $1.32, for a total transaction of $34,700.16. Following the sale, the chief accounting officer now owns 390,596 shares in the company, valued at approximately $515,586.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the transaction, the chief accounting officer now directly owns 390,596 shares in the company, valued at approximately $515,586.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Wilmer sold 27,252 shares of ChargePoint stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the sale, the chief executive officer now owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,803 shares of company stock valued at $135,295 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHPT. First Trust Direct Indexing L.P. purchased a new stake in shares of ChargePoint during the 1st quarter valued at $92,000. Capstone Investment Advisors LLC purchased a new stake in ChargePoint during the first quarter valued at about $238,000. PDS Planning Inc acquired a new stake in ChargePoint during the first quarter worth about $31,000. SG Americas Securities LLC raised its holdings in shares of ChargePoint by 51.6% in the 1st quarter. SG Americas Securities LLC now owns 109,240 shares of the company’s stock worth $208,000 after purchasing an additional 37,180 shares during the period. Finally, Swiss National Bank lifted its stake in shares of ChargePoint by 23.2% in the 1st quarter. Swiss National Bank now owns 742,900 shares of the company’s stock valued at $1,412,000 after purchasing an additional 139,700 shares in the last quarter. Hedge funds and other 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.