ChargePoint (NYSE:CHPT) Trading 4.8% Higher

ChargePoint Holdings, Inc. (NYSE:CHPT)’s share price traded up 4.8% on Friday . The stock traded as high as $1.43 and last traded at $1.43. 2,482,999 shares changed hands during trading, a decline of 82% from the average session volume of 13,774,912 shares. The stock had previously closed at $1.36.

Wall Street Analyst Weigh In

CHPT has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a report on Friday, September 6th. B. Riley raised ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Wolfe Research began coverage on ChargePoint in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada dropped their price target on ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Thursday, September 5th. Finally, TD Cowen lowered ChargePoint from a “buy” rating to a “hold” rating and decreased their price objective for the company from $3.00 to $2.00 in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and an average target price of $3.39.

ChargePoint Stock Up 0.7 %

The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The firm has a 50-day moving average of $1.70 and a 200 day moving average of $1.70. The stock has a market capitalization of $591.26 million, a price-to-earnings ratio of -1.16 and a beta of 1.70.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). The company had revenue of $108.54 million during the quarter, compared to the consensus estimate of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. As a group, sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Richard Wilmer sold 27,252 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $36,790.20. Following the sale, the chief executive officer now directly owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Richard Wilmer sold 27,252 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the transaction, the chief executive officer now directly owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. The disclosure for this sale can be found here. Insiders sold a total of 74,515 shares of company stock valued at $100,595 in the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHPT. Treasurer of the State of North Carolina boosted its holdings in shares of ChargePoint by 3.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after acquiring an additional 4,910 shares during the period. CIBC Asset Management Inc grew its holdings in ChargePoint by 50.7% in the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after buying an additional 5,770 shares in the last quarter. Hsbc Holdings PLC increased its position in ChargePoint by 41.4% during the 2nd quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock worth $39,000 after buying an additional 7,723 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of ChargePoint by 6.1% during the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after buying an additional 7,838 shares in the last quarter. Finally, Capital Square LLC boosted its position in shares of ChargePoint by 47.4% in the first quarter. Capital Square LLC now owns 24,880 shares of the company’s stock valued at $47,000 after acquiring an additional 8,000 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

About ChargePoint

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.