ChargePoint (NYSE:CHPT) Shares Up 6.7%

ChargePoint Holdings, Inc. (NYSE:CHPT)’s share price was up 6.7% during trading on Tuesday . The stock traded as high as $1.76 and last traded at $1.75. Approximately 2,703,153 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 14,251,443 shares. The stock had previously closed at $1.64.

Analyst Ratings Changes

CHPT has been the topic of several research reports. TD Cowen reduced their price target on ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Benchmark decreased their price target on shares of ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price target on shares of ChargePoint in a report on Thursday, June 6th. Finally, B. Riley upgraded ChargePoint to a “hold” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, ChargePoint currently has an average rating of “Hold” and an average target price of $4.88.

ChargePoint Stock Performance

The company has a market cap of $753.58 million, a PE ratio of -1.52 and a beta of 1.71. The company has a 50-day moving average of $1.79 and a 200-day moving average of $1.80. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Wednesday, June 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The firm had revenue of $107.04 million for the quarter, compared to the consensus estimate of $106.09 million. ChargePoint had a negative net margin of 93.05% and a negative return on equity of 127.18%. As a group, analysts anticipate that ChargePoint Holdings, Inc. will post -0.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Mansi Khetani sold 19,007 shares of the 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 $26,609.80. Following the completion of the sale, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at $563,490.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the sale, the chief executive officer now owns 2,331,740 shares in the company, valued at $3,264,436. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the completion of the transaction, the chief financial officer now owns 402,493 shares in the company, valued at $563,490.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,099 shares of company stock valued at $137,498. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Hedge funds have recently modified their holdings of the stock. Balentine LLC purchased a new stake in ChargePoint in the fourth quarter worth $26,000. CIBC Asset Management Inc increased its holdings in ChargePoint by 50.7% in the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after acquiring an additional 5,770 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in ChargePoint in the 1st quarter valued at about $30,000. RWA Wealth Partners LLC purchased a new stake in ChargePoint during the fourth quarter valued at about $31,000. Finally, PDS Planning Inc bought a new position in ChargePoint during the first quarter worth about $31,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Company Profile

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.