ChargePoint (NYSE:CHPT) Trading 6.3% Higher

ChargePoint Holdings, Inc. (NYSE:CHPT)’s share price rose 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 mid-day trading, a decline of 68% from the average daily volume of 14,063,885 shares. The stock had previously closed at $1.27.

Analysts Set New Price Targets

Several analysts have recently weighed in on CHPT shares. R. F. Lafferty reduced their price objective 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. Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Thursday, April 4th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $1.50 target price (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Finally, Benchmark reiterated a “buy” rating and set a $4.25 price target on shares of ChargePoint in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.46.

ChargePoint Price Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65. The stock’s fifty day simple moving average is $1.77 and its 200-day simple moving average is $2.15.

ChargePoint (NYSE:CHPT) last posted its earnings results on Tuesday, March 5th. The company reported ($0.19) EPS 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 company had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. As a group, sell-side analysts predict that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In other 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 completion of the transaction, 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 filing with the SEC, which is available at the SEC website. In other news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction dated 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 sale, the chief financial officer now directly owns 421,500 shares in the company, valued at $788,205. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard Wilmer sold 25,376 shares of the firm’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 transaction of $47,453.12. Following the sale, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,846 shares of company stock worth $296,562. Insiders own 12.90% of the company’s stock.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHPT. Balentine LLC acquired a new stake in shares of ChargePoint in the fourth quarter worth approximately $26,000. RWA Wealth Partners LLC acquired a new position in shares of ChargePoint in the 4th quarter valued at $31,000. Ingalls & Snyder LLC purchased a new stake in shares of ChargePoint during the 4th quarter valued at $33,000. Sigma Planning Corp acquired a new stake in shares of ChargePoint during the 4th quarter worth $33,000. Finally, TCG Advisory Services LLC purchased a new position in shares of ChargePoint in the 4th quarter worth $33,000. 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.