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

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CHPT shares. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price target (down from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. Benchmark restated a “buy” rating and set a $4.25 price target on shares of ChargePoint in a research note on Wednesday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. R. F. Lafferty cut their target price on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.14.

ChargePoint Price Performance

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.25. The stock’s 50 day simple moving average is $1.86 and its 200 day simple moving average is $2.25. The firm has a market capitalization of $514.17 million, a P/E ratio of -0.98 and a beta of 1.62.

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

Insider Transactions at ChargePoint

In other ChargePoint news, Director Michael Linse sold 100,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the completion of the sale, the director now 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 SEC, which is available through this hyperlink. In other news, Director Michael Linse sold 100,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $2,347,141.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard Wilmer sold 25,376 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 transaction of $47,453.12. Following the transaction, the chief executive officer now directly owns 2,359,462 shares in the company, valued at $4,412,193.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,846 shares of company stock valued at $296,562. Corporate insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Large investors have recently modified their holdings of the business. Balentine LLC purchased a new stake in ChargePoint in the 4th quarter valued at about $26,000. RWA Wealth Partners LLC purchased a new position in shares of ChargePoint during the 4th quarter worth approximately $31,000. Ingalls & Snyder LLC acquired a new stake in ChargePoint in the 4th quarter valued at approximately $33,000. Sigma Planning Corp purchased a new stake in ChargePoint in the fourth quarter valued at approximately $33,000. Finally, TCG Advisory Services LLC acquired a new position in ChargePoint during the fourth quarter worth $33,000. 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.