Charge Enterprises, Inc. (NASDAQ:CRGE) Short Interest Update

Charge Enterprises, Inc. (NASDAQ:CRGE) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,680,000 shares, a decrease of 5.6% from the October 15th total of 3,900,000 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 510,700 shares, the days-to-cover ratio is currently 7.2 days.

Insider Activity at Charge Enterprises

In related news, Director Justin Deutsch acquired 105,400 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was bought at an average cost of $0.46 per share, with a total value of $48,484.00. Following the transaction, the director now owns 1,080,168 shares of the company’s stock, valued at $496,877.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 163,400 shares of company stock valued at $78,744 in the last three months. 25.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Charge Enterprises

Several hedge funds have recently made changes to their positions in the business. Truepoint Inc. acquired a new position in Charge Enterprises in the first quarter valued at $26,000. Virtu Financial LLC bought a new stake in Charge Enterprises in the second quarter valued at about $29,000. Two Sigma Advisers LP bought a new stake in Charge Enterprises in the third quarter valued at about $29,000. Federated Hermes Inc. bought a new stake in Charge Enterprises in the third quarter valued at about $30,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Charge Enterprises by 85.8% during the third quarter. Price T Rowe Associates Inc. MD now owns 19,175 shares of the company’s stock valued at $34,000 after purchasing an additional 8,856 shares during the last quarter. Institutional investors and hedge funds own 21.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $4.50 price target on shares of Charge Enterprises in a report on Tuesday, August 15th.

Charge Enterprises Stock Performance

NASDAQ CRGE opened at $0.29 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.94 and a quick ratio of 0.93. The business has a 50 day moving average price of $0.43 and a 200 day moving average price of $0.73. The company has a market capitalization of $62.66 million, a P/E ratio of -1.46 and a beta of 3.15. Charge Enterprises has a 1-year low of $0.27 and a 1-year high of $2.50.

Charge Enterprises (NASDAQ:CRGE) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Charge Enterprises had a negative return on equity of 136.79% and a negative net margin of 5.76%. The company had revenue of $132.28 million during the quarter, compared to the consensus estimate of $147.95 million. Sell-side analysts expect that Charge Enterprises will post -0.18 EPS for the current fiscal year.

About Charge Enterprises

Charge Enterprises Inc operates as an electrical, broadband, and electric vehicle (EV) charging infrastructure company. The company provides clients with end-to-end project management services, including advising, designing, engineering, acquiring and installing equipment, monitoring, servicing, and maintenance.