ChargePoint Sees Unusually Large Options Volume (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the target of some unusual options trading on Friday. Investors purchased 60,080 call options on the company. This is an increase of approximately 59% compared to the average volume of 37,726 call options.

Insider Activity at ChargePoint

In related news, CEO Richard Wilmer sold 27,722 shares of ChargePoint stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $38,810.80. Following the sale, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at approximately $3,264,436. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the transaction, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at approximately $3,264,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the transaction, the chief financial officer now directly owns 402,493 shares in the company, valued at approximately $563,490.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,099 shares of company stock valued at $137,498. 3.50% of the stock is owned by insiders.

Institutional Trading of ChargePoint

Institutional investors and hedge funds have recently modified their holdings of the business. Balentine LLC bought a new position in shares of ChargePoint in the fourth quarter worth $26,000. RWA Wealth Partners LLC bought a new stake in ChargePoint during the fourth quarter valued at $31,000. Sigma Planning Corp bought a new stake in ChargePoint during the fourth quarter valued at $33,000. Ingalls & Snyder LLC bought a new stake in ChargePoint during the fourth quarter valued at $33,000. Finally, Bridgecreek Investment Management LLC bought a new stake in ChargePoint during the fourth quarter valued at $33,000. 37.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHPT has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research note on Thursday, June 6th. TD Cowen reduced their price target on ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. The Goldman Sachs Group restated a “sell” rating and issued a $1.50 price target (down from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. B. Riley upgraded ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Finally, Benchmark dropped their price objective on ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.88.

ChargePoint Trading Up 9.0 %

Shares of ChargePoint stock traded up $0.15 on Friday, hitting $1.81. 9,120,973 shares of the company’s stock traded hands, compared to its average volume of 14,153,819. ChargePoint has a one year low of $1.21 and a one year high of $9.23. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.13 and a quick ratio of 1.45. The company has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.84. The company has a market capitalization of $766.03 million, a price-to-earnings ratio of -1.49 and a beta of 1.72.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. The business had revenue of $107.04 million for the quarter, compared to analyst estimates of $106.09 million. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. As a group, sell-side analysts expect that ChargePoint will post -0.54 earnings per share for the current year.

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.