ChargePoint (NYSE:CHPT) Trading Up 7.2%

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) were up 7.2% on Thursday . The stock traded as high as $1.51 and last traded at $1.50. Approximately 3,110,554 shares were traded during trading, a decline of 77% from the average daily volume of 13,743,686 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CHPT shares. Benchmark reaffirmed a “buy” rating and set a $4.25 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. The Goldman Sachs Group reissued a “sell” rating and set a $1.50 price target (down from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. R. F. Lafferty reduced their price target on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of ChargePoint in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.96.

ChargePoint Stock Performance

The company has a market cap of $620.22 million, a P/E ratio of -1.19 and a beta of 1.74. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average price of $1.62 and a two-hundred day moving average price of $1.88.

Insider Transactions at ChargePoint

In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the transaction, the chief executive officer now owns 2,331,740 shares in the company, valued at approximately $3,264,436. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Henrik Gerdes sold 43,596 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the sale, the chief accounting officer now owns 438,004 shares of the company’s stock, valued at approximately $657,006. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $38,810.80. Following the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at approximately $3,264,436. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,099 shares of company stock worth $137,498. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Several hedge funds have recently modified their holdings of the company. Mutual Advisors LLC lifted its holdings in ChargePoint by 9.2% during the 3rd quarter. Mutual Advisors LLC now owns 43,910 shares of the company’s stock worth $218,000 after buying an additional 3,700 shares during the period. Treasurer of the State of North Carolina lifted its holdings in ChargePoint by 3.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after buying an additional 4,910 shares during the period. Independent Advisor Alliance lifted its holdings in ChargePoint by 34.2% during the 4th quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock worth $47,000 after buying an additional 5,085 shares during the period. O ROURKE & COMPANY Inc lifted its holdings in ChargePoint by 34.2% during the 4th quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock worth $57,000 after buying an additional 6,207 shares during the period. Finally, Core Wealth Management Inc. lifted its holdings in ChargePoint by 46.8% during the 4th quarter. Core Wealth Management Inc. now owns 20,015 shares of the company’s stock worth $47,000 after buying an additional 6,380 shares during the period. Institutional investors and hedge funds own 37.77% of the company’s stock.

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.