ChargePoint (NYSE:CHPT) Trading Up 6.3%

ChargePoint Holdings, Inc. (NYSE:CHPT) was up 6.3% during trading on Monday . The stock traded as high as $1.39 and last traded at $1.35. Approximately 4,443,051 shares were traded during trading, a decline of 68% from the average daily volume of 14,063,885 shares. The stock had previously closed at $1.27.

Analyst Ratings Changes

CHPT has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $4.25 price target on shares of ChargePoint in a research note on Wednesday, March 6th. R. F. Lafferty cut their target price 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 reissued a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research note on Thursday, April 4th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Finally, Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.46.

ChargePoint Stock Up 2.3 %

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 company’s 50-day simple moving average is $1.74 and its 200 day simple moving average is $2.12.

ChargePoint (NYSE:CHPT) last posted its 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. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. The company had revenue of $115.83 million during the quarter, compared to analysts’ expectations of $126.48 million. Analysts predict that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in ChargePoint during the 4th quarter worth approximately $9,733,000. Vanguard Group Inc. grew its stake in ChargePoint by 12.9% during the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock valued at $144,936,000 after acquiring an additional 3,325,694 shares in the last quarter. Wellington Management Group LLP raised its holdings in ChargePoint by 418.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after acquiring an additional 2,035,496 shares during the last quarter. Cadian Capital Management LP purchased a new position in ChargePoint in the 3rd quarter worth approximately $4,970,000. Finally, Quadrature Capital Ltd acquired a new position in shares of ChargePoint during the 4th quarter worth approximately $1,257,000. Hedge funds and other institutional investors 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.