ChargePoint (NYSE:CHPT) Trading Up 3.2%

ChargePoint Holdings, Inc. (NYSE:CHPT)’s share price rose 3.2% during mid-day trading on Wednesday . The stock traded as high as $1.83 and last traded at $1.80. Approximately 849,371 shares were traded during trading, a decline of 94% from the average daily volume of 13,834,259 shares. The stock had previously closed at $1.74.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Thursday, April 4th. R. F. Lafferty cut their price target on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th. DA Davidson reiterated a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.46.

ChargePoint Stock Performance

The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $719.01 million, a price-to-earnings ratio of -1.39 and a beta of 1.69. The stock’s 50 day moving average is $1.66 and its 200 day moving average is $2.00.

ChargePoint (NYSE:CHPT) last posted its earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The firm 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%. On average, analysts predict that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following the sale, the chief executive officer now owns 2,359,462 shares in the company, valued at $4,412,193.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the sale, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the transaction, the chief financial officer now owns 421,500 shares in the company, valued at approximately $788,205. The disclosure for this sale can be found here. Insiders have sold 154,846 shares of company stock valued at $296,562 in the last ninety days. Insiders own 12.90% of the company’s stock.

Institutional Trading of ChargePoint

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Balentine LLC purchased a new position in ChargePoint in the fourth quarter valued at about $26,000. QRG Capital Management Inc. acquired a new position in ChargePoint during the 3rd quarter worth approximately $58,000. Hollencrest Capital Management purchased a new position in ChargePoint in the 3rd quarter worth approximately $60,000. M&T Bank Corp acquired a new stake in ChargePoint in the third quarter valued at approximately $62,000. Finally, RWA Wealth Partners LLC purchased a new position in shares of ChargePoint in the fourth quarter valued at $31,000. Institutional investors and hedge funds 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.