ChargePoint Target of Unusually Large Options Trading (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) saw unusually large options trading on Wednesday. Investors purchased 138,606 call options on the company. This represents an increase of approximately 53% compared to the average volume of 90,462 call options.

ChargePoint Trading Up 8.0 %

NYSE CHPT opened at $10.89 on Thursday. The business has a 50 day simple moving average of $10.92 and a 200 day simple moving average of $13.41. ChargePoint has a one year low of $8.07 and a one year high of $20.99. The stock has a market capitalization of $3.72 billion, a P/E ratio of -10.57 and a beta of 1.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.69 and a quick ratio of 2.43.

Analysts Set New Price Targets

A number of brokerages have commented on CHPT. Cowen decreased their price objective on ChargePoint to $20.00 in a report on Monday, November 28th. Citigroup decreased their price objective on ChargePoint from $15.50 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 29th. Oppenheimer decreased their price objective on ChargePoint from $40.00 to $26.00 in a report on Friday, December 2nd. B. Riley decreased their price objective on ChargePoint from $20.00 to $18.00 in a report on Monday, November 7th. Finally, R. F. Lafferty decreased their price objective on ChargePoint from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, December 5th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.64.

Insider Transactions at ChargePoint

In other news, insider William J. Loewenthal sold 3,051 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $9.53, for a total transaction of $29,076.03. Following the sale, the insider now owns 432,892 shares in the company, valued at approximately $4,125,460.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider William J. Loewenthal sold 3,115 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $10.94, for a total transaction of $34,078.10. Following the transaction, the insider now directly owns 435,943 shares of the company’s stock, valued at approximately $4,769,216.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William J. Loewenthal sold 3,051 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $9.53, for a total value of $29,076.03. Following the transaction, the insider now directly owns 432,892 shares in the company, valued at $4,125,460.76. The disclosure for this sale can be found here. Insiders have sold a total of 736,621 shares of company stock worth $7,362,337 in the last 90 days. Corporate insiders own 23.64% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Large investors have recently added to or reduced their stakes in the business. Total Clarity Wealth Management Inc. acquired a new stake in ChargePoint in the second quarter valued at approximately $26,000. Guardian Wealth Advisors LLC acquired a new stake in ChargePoint in the third quarter valued at approximately $26,000. CoreCap Advisors LLC acquired a new stake in ChargePoint in the second quarter valued at approximately $30,000. Wolff Wiese Magana LLC acquired a new stake in ChargePoint in the second quarter valued at approximately $31,000. Finally, Allworth Financial LP grew its stake in ChargePoint by 75.8% in the third quarter. Allworth Financial LP now owns 2,667 shares of the company’s stock valued at $39,000 after acquiring an additional 1,150 shares during the period. Institutional investors and hedge funds own 44.87% of the company’s stock.

ChargePoint Company Profile

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ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.