ChargePoint (NYSE:CHPT) Hits New 52-Week Low at $1.22

ChargePoint Holdings, Inc. (NYSE:CHPT)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $1.22 and last traded at $1.23, with a volume of 6052295 shares changing hands. The stock had previously closed at $1.36.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. The Goldman Sachs Group restated a “sell” rating and set a $1.50 price objective (down from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. R. F. Lafferty reduced their price objective on ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research note on Thursday, April 4th. Finally, DA Davidson restated a “buy” rating and set a $4.00 price objective on shares of ChargePoint in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, ChargePoint has a consensus rating of “Hold” and a consensus target price of $6.14.

ChargePoint Trading Down 1.8 %

The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87. The business has a 50 day simple moving average of $1.82 and a 200-day simple moving average of $2.21.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $115.83 million for the quarter, compared to analyst estimates of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. As a group, analysts predict that ChargePoint Holdings, Inc. will post -0.63 EPS for the current year.

Insider Activity

In other news, Director Michael Linse sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the transaction, the director now directly owns 1,209,867 shares of the company’s stock, valued at $2,347,141.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael Linse sold 100,000 shares of ChargePoint stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the transaction, the director now directly owns 1,209,867 shares of the company’s stock, valued at $2,347,141.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the transaction, the chief financial officer now directly owns 421,500 shares in the company, valued at $788,205. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,846 shares of company stock valued at $296,562. Company insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently bought and sold shares of the business. PFG Investments LLC acquired a new stake in shares of ChargePoint during the 1st quarter valued at about $49,000. First Trust Direct Indexing L.P. acquired a new stake in shares of ChargePoint during the 1st quarter valued at about $92,000. O ROURKE & COMPANY Inc lifted its holdings in shares of ChargePoint by 39.7% during the 1st quarter. O ROURKE & COMPANY Inc now owns 34,048 shares of the company’s stock valued at $65,000 after buying an additional 9,668 shares during the last quarter. Bouvel Investment Partners LLC lifted its holdings in shares of ChargePoint by 138.8% during the 1st quarter. Bouvel Investment Partners LLC now owns 303,264 shares of the company’s stock valued at $576,000 after buying an additional 176,246 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of ChargePoint during the 4th quarter valued at about $1,257,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

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.