Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Target Price at $2.46

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have received an average rating of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $2.46.

A number of equities analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Benchmark reiterated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research report on Thursday, December 5th. UBS Group dropped their target price on ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Finally, Royal Bank of Canada decreased their price target on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th.

Insider Activity at ChargePoint

In other news, insider Jagdeep Ca Singh sold 36,574 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $41,694.36. Following the transaction, the insider now owns 1,161,430 shares in the company, valued at approximately $1,324,030.20. This trade represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mansi Khetani sold 22,038 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the sale, the chief financial officer now directly owns 1,230,305 shares of the company’s stock, valued at approximately $1,402,547.70. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,148 shares of company stock worth $99,349 in the last 90 days. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ChargePoint

Several large investors have recently modified their holdings of the business. Financial Advocates Investment Management bought a new position in shares of ChargePoint during the third quarter valued at approximately $29,000. Cibc World Markets Corp bought a new stake in ChargePoint during the 4th quarter valued at $40,000. Callan Family Office LLC purchased a new position in shares of ChargePoint in the 4th quarter valued at $45,000. Strategic Investment Advisors MI bought a new position in shares of ChargePoint in the 4th quarter worth $46,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after purchasing an additional 17,075 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Up 2.7 %

CHPT stock opened at $0.70 on Thursday. The firm has a fifty day moving average price of $1.08 and a 200 day moving average price of $1.32. ChargePoint has a fifty-two week low of $0.66 and a fifty-two week high of $2.44. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24.

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.