ChargePoint (NYSE:CHPT) Trading 6.3% Higher

ChargePoint Holdings, Inc. (NYSE:CHPT) shot up 6.3% during mid-day trading on Monday . The company traded as high as $1.39 and last traded at $1.35. 4,443,051 shares changed hands during trading, a decline of 68% from the average session volume of 14,063,885 shares. The stock had previously closed at $1.27.

Analysts Set New Price Targets

CHPT has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $4.25 target price 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. DA Davidson restated a “buy” rating and set a $4.00 price target on shares of ChargePoint in a research report on Wednesday, March 6th. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, R. F. Lafferty reduced their price target on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.46.

ChargePoint Stock 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 firm has a 50 day simple moving average of $1.77 and a 200-day simple moving average of $2.15.

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

Insider Activity

In related news, CEO Richard Wilmer sold 25,376 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the transaction, the chief executive officer now owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Michael Linse sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total value of $194,000.00. Following the sale, the director now directly owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard Wilmer sold 25,376 shares of the business’s stock in a transaction 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 directly 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 ninety days, insiders sold 154,846 shares of company stock worth $296,562. Corporate insiders own 12.90% of the company’s stock.

Institutional Trading of ChargePoint

A number of hedge funds have recently made changes to their positions in the company. Balentine LLC bought a new position in shares of ChargePoint during the fourth quarter valued at $26,000. RWA Wealth Partners LLC acquired a new stake in ChargePoint during the 4th quarter valued at approximately $31,000. Ingalls & Snyder LLC bought a new stake in shares of ChargePoint in the 4th quarter valued at $33,000. Sigma Planning Corp acquired a new stake in shares of ChargePoint during the fourth quarter worth $33,000. Finally, TCG Advisory Services LLC bought a new position in ChargePoint during the fourth quarter worth $33,000. 37.77% of the stock is owned by institutional investors and hedge funds.

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.