ChargePoint (NYSE:CHPT) Trading 7.5% Higher

ChargePoint Holdings, Inc. (NYSE:CHPT) shares traded up 7.5% on Friday . The company traded as high as $2.09 and last traded at $2.09. 1,762,735 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 14,087,835 shares. The stock had previously closed at $1.94.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Benchmark dropped their price target on shares of ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Thursday, June 6th. TD Cowen dropped their target price on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. B. Riley upgraded shares of ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.88.

ChargePoint Stock Up 8.0 %

The company has a current ratio of 2.13, a quick ratio of 1.45 and a debt-to-equity ratio of 1.02. The firm has a market cap of $886.94 million, a PE ratio of -1.79 and a beta of 1.72. The business’s 50-day simple moving average is $1.69 and its 200 day simple moving average is $1.82.

ChargePoint (NYSE:CHPT) last posted its earnings results on Wednesday, June 5th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. ChargePoint had a negative net margin of 93.05% and a negative return on equity of 127.18%. The business had revenue of $107.04 million for the quarter, compared to the consensus estimate of $106.09 million. As a group, equities research analysts expect that ChargePoint Holdings, Inc. will post -0.54 earnings per share for the current year.

Insider Transactions at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard Wilmer sold 27,722 shares of the company’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 of the company’s stock, valued at approximately $3,264,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Henrik Gerdes sold 43,596 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total transaction of $65,394.00. Following the completion of the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at $657,006. The disclosure for this sale can be found here. Insiders have sold a total of 95,099 shares of company stock valued at $137,498 in the last 90 days. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in ChargePoint by 12.9% during the third quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after acquiring an additional 3,325,694 shares during the period. Ingalls & Snyder LLC acquired a new position in ChargePoint during the fourth quarter worth $33,000. Wellington Management Group LLP raised its position in ChargePoint by 418.2% during the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after acquiring an additional 2,035,496 shares during the period. M&T Bank Corp raised its position in ChargePoint by 484.7% during the fourth quarter. M&T Bank Corp now owns 73,396 shares of the company’s stock worth $172,000 after acquiring an additional 60,843 shares during the period. Finally, Oak Thistle LLC acquired a new position in ChargePoint during the fourth quarter worth $266,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

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.