5 Cheap Lithium Stocks to Buy Today

4. ChargePoint Holdings, Inc. (NYSE:CHPT)

Number of Hedge Fund Holders: 17    

Share Price as of September 13: $17.88

ChargePoint Holdings, Inc. (NYSE:CHPT) provides electric vehicle (EV) charging networks and charging solutions. On August 30, the company posted earnings for the second quarter of 2022, reporting losses per share of $0.28, missing market estimates by $0.04. The revenue over the period was $108 million, up over 93% compared to the revenue over the same period last year and beating analyst estimates by $5 million. The firm said it expected third quarter revenue to be in the range of $125 million to $135 million versus consensus estimates of $131 million. 

On September 7, Credit Suisse analyst Maheep Mandloi initiated coverage of ChargePoint Holdings, Inc. (NYSE:CHPT) stock with an Outperform rating and a price target of $22, noting the firm was benefiting from a capital-light growth model and first-mover advantage. 

At the end of the second quarter of 2022, 17 hedge funds in the database of Insider Monkey held stakes worth $22.8 million in ChargePoint Holdings, Inc. (NYSE:CHPT), compared to 16 in the previous quarter worth $34.7 million.