ChargePoint (CHPT) Set to Announce Quarterly Earnings on Thursday

ChargePoint (NYSE:CHPT – Get Rating) is scheduled to be announcing its earnings results after the market closes on Thursday, June 1st. Analysts expect the company to announce earnings of ($0.16) per share for the quarter. ChargePoint has set its Q1 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

ChargePoint (NYSE:CHPT – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. ChargePoint had a negative return on equity of 82.84% and a negative net margin of 73.59%. The business had revenue of $152.83 million during the quarter, compared to analyst estimates of $164.31 million. On average, analysts expect ChargePoint to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

ChargePoint Trading Down 1.5 %

Shares of CHPT stock opened at $8.36 on Thursday. The firm has a market capitalization of $2.93 billion, a PE ratio of -8.12 and a beta of 1.69. The stock has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $10.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.23 and a current ratio of 2.48. ChargePoint has a 52-week low of $7.82 and a 52-week high of $19.92.

Insider Activity at ChargePoint

In related news, insider Richard Wilmer sold 4,312 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $9.40, for a total transaction of $40,532.80. Following the completion of the transaction, the insider now directly owns 658,018 shares in the company, valued at $6,185,369.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ChargePoint news, insider Richard Wilmer sold 4,312 shares of the company’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $9.40, for a total value of $40,532.80. Following the completion of the transaction, the insider now owns 658,018 shares in the company, valued at $6,185,369.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Pasquale Romano sold 20,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $8.00, for a total transaction of $160,000.00. Following the completion of the transaction, the chief executive officer now owns 4,148,054 shares of the company’s stock, valued at approximately $33,184,432. The disclosure for this sale can be found here. Insiders sold 429,610 shares of company stock worth $3,676,846 over the last three months. Company insiders own 23.64% of the company’s stock.

Institutional Trading of ChargePoint

Institutional investors and hedge funds have recently modified their holdings of the stock. Centaurus Financial Inc. purchased a new stake in ChargePoint during the 1st quarter valued at about $263,000. Advisory Services Network LLC grew its stake in ChargePoint by 442.1% during the 1st quarter. Advisory Services Network LLC now owns 38,568 shares of the company’s stock valued at $404,000 after acquiring an additional 31,453 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in ChargePoint by 62.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,600,928 shares of the company’s stock valued at $16,761,000 after acquiring an additional 614,958 shares in the last quarter. Hollencrest Capital Management grew its stake in ChargePoint by 162.2% during the 1st quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock valued at $36,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Trium Capital LLP purchased a new stake in ChargePoint during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 44.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CHPT shares. JPMorgan Chase & Co. cut their price objective on ChargePoint from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, March 3rd. Citigroup reduced their target price on shares of ChargePoint from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 6th. Janney Montgomery Scott assumed coverage on shares of ChargePoint in a research report on Friday, February 24th. They set a “buy” rating on the stock. Stifel Nicolaus cut their price objective on shares of ChargePoint from $25.00 to $17.00 in a report on Tuesday, April 25th. Finally, B. Riley cut their price target on shares of ChargePoint from $18.00 to $12.00 in a report on Monday, May 8th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.68.

About ChargePoint

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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.