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Fox Advisors Downgrades ChargePoint

Fintel reports that on September 7, 2023, Fox Advisors downgraded their outlook for ChargePoint Holdings Inc – (NYSE:CHPT) from Overweight to Equal-Weight.

Analyst Price Forecast Suggests 143.08% Upside

As of August 31, 2023, the average one-year price target for ChargePoint Holdings Inc – is 15.29. The forecasts range from a low of 10.10 to a high of $28.35. The average price target represents an increase of 143.08% from its latest reported closing price of 6.29.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for ChargePoint Holdings Inc – is 746MM, an increase of 33.48%. The projected annual non-GAAP EPS is -0.55.

What is the Fund Sentiment?

There are 530 funds or institutions reporting positions in ChargePoint Holdings Inc -. This is a decrease of 32 owner(s) or 5.69% in the last quarter. Average portfolio weight of all funds dedicated to CHPT is 0.54%, an increase of 1.27%. Total shares owned by institutions increased in the last three months by 0.96% to 163,122K shares. The put/call ratio of CHPT is 0.63, indicating a bullish outlook.

What are Other Shareholders Doing?

Linse Capital holds 15,545K shares representing 4.40% ownership of the company. In it’s prior filing, the firm reported owning 24,792K shares, representing a decrease of 59.48%. The firm increased its portfolio allocation in CHPT by 3.91% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 9,070K shares representing 2.57% ownership of the company. In it’s prior filing, the firm reported owning 8,477K shares, representing an increase of 6.54%. The firm decreased its portfolio allocation in CHPT by 17.12% over the last quarter.

Canada Pension Plan Investment Board holds 7,819K shares representing 2.21% ownership of the company. No change in the last quarter.

Braemar Energy Ventures III holds 7,460K shares representing 2.11% ownership of the company. No change in the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 7,292K shares representing 2.06% ownership of the company. In it’s prior filing, the firm reported owning 7,155K shares, representing an increase of 1.89%. The firm decreased its portfolio allocation in CHPT by 18.59% over the last quarter.

ChargePoint Holdings Background Information
(This description is provided by the company.)

Switchback is a special purpose acquisition company and was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the energy value chain. Switchback is sponsored by NGP Switchback, LLC, which is owned by a private investment fund advised by NGP Energy Capital Management, L.L.C. and the management team of Switchback.

This article originally appeared on Fintel

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