tl;dr
Slower battery-electric vehicle sales in the U.S. this year and the expectation for heightened competition will not only impact OEM’s but suppliers as well as Goldman downgrades both Sensata (NYSE:ST) and ChargePoint (NYSE:CHPT) given their exposure to the North American EV market. The firm downgrad...
Slower battery-electric vehicle sales in the U.S. this year and the expectation for heightened competition will not only impact OEM’s but suppliers as well as Goldman downgrades both Sensata (NYSE:ST) and ChargePoint (NYSE:CHPT) given their exposure to the North American EV market. The firm downgraded Sensata (ST) to Neutral from Buy, and ChargePoint (CHPT) to Sell from Neutral. For Sensata (ST), Goldman Sachs analyst Mark Delaney expects the company to see slower near- to intermediate-term revenue growth in its North American business tied to the sluggish EV market in the U.S. which includes Ford’s (F) decision to scale back and even delay production on some of its EVs. Delaney stresses that Sensata (ST) has 1.5x the content on a battery-EV versus a traditional combustion engine vehicle in North American compared to 0.5x in Europe and 1.25x in China. By downgrading CheckPoint (CHPT) to Sell, Delaney sees less EVs on the road resulting in the need for fewer charging stations. With 80% of its sales in North America, ChargePoint will be impacted by slower U.S. EV sales, in addition to Tesla’s (TSLA) opening up its charging stations to other EVs, both of which will limit demand for networks using ChargePoint. In addition, Tesla’s (TSLA) move to sell its chargers as a merchant business puts Tesla (TSLA) in direct competition with ChargePoint (CHPT). In addition to a downgrade, Goldman dropped its price target for Sensata (ST) by 18% to $36, and down 25% for ChargePoint (CHPT) to just $1.50.
More about Sensata Technologies Holding NV
Stock Market Analysis: Sensata Technologies Holding NV Sensata Technologies Holding NV: Stock Market Analysis
Sensata Technologies Holding NV, a global company headquartered in Attleboro, Massachusetts, specializes in sensors, sensor-based solutions, controls, and other products. Its operations span across America, Europe, Asia, and international markets.
Industry Focus: Life Sciences, Industrial Instruments for Measurement, Display, and Control
Market Cap: 5.4 billion
Dividend Yield: 0.47
EPS: -0.03
P/E Ratio: 26.66
Price/Book: -0.001
Revenue: 4.05 billion
Operating Margin: 42.5%
Net Margin: -0.548%
ROE: -0.022
More about ChargePoint Holdings Inc
ChargePoint Holdings Inc Summary ChargePoint Holdings Inc
ChargePoint Holdings, Inc. provides electric vehicle (EV) charging networks and charging solutions in the United States. The company is headquartered in Campbell, California.
Industry and Sector
Industry: Manufacturing
Sector: Miscellaneous Transportation Equipment
Financial Information
Market Cap: $778.85 million
Dividend Yield: None
Beta: -1.22
Price to Sales: 1.349
Price to Book: -0.903
Revenue: $506.64 million
Operating Margin: 3.61%
Return on Equity: 0%
EPS: -0.242
More about Ford Motor Company
Ford Motor Company, commonly known as Ford, is an American multinational automaker that has its main headquarters in Dearborn, Michigan.
Industry: Manufacturing
Sector: Motor Vehicles & Passenger Car Bodies
Market Cap: $52.77 billion
P/E Ratio: 12.3
EPS: 0.6
Dividend (Yield): 1.08 (4.07%)
52-Week High: $44.07
52-Week Low: $0.0247
Revenue: $176.19 billion
Revenue per Share: $13.15
Net Income: $1.938 billion
Debt to Equity: 0.045
More about Tesla Inc
TESLA Inc. Technical Analysis Summary:
Industry: Manufacturing - Motor Vehicles & Passenger Car Bodies
Current Stock Price: $550.90
52-Week Range: $174.97 - $900.40
Support Level: $530.49
Resistance Level: $900.40
Relative Strength Index (RSI): 40.23
Moving Average: $967.72
Bollinger Bands: $30.49 (Lower), $174.97 (Upper)
Price Change: 1.115
Price Change Percentage: 0.035%
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.