ChargePoint (NYSE:CHPT) Stock Price Up 7%

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) shot up 7% during mid-day trading on Tuesday . The company traded as high as $2.15 and last traded at $2.14. 8,862,530 shares changed hands during trading, a decline of 39% from the average session volume of 14,487,730 shares. The stock had previously closed at $2.00.

Analysts Set New Price Targets

CHPT has been the topic of several research analyst reports. Benchmark decreased their price target on ChargePoint from $4.25 to $3.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. B. Riley upgraded ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. Needham & Company LLC restated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research report on Thursday, June 6th. TD Cowen cut their price target on ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $1.50 price objective (down from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.88.

ChargePoint Stock Up 4.7 %

The firm’s 50 day moving average is $1.76 and its 200-day moving average is $1.80. The firm has a market cap of $855.19 million, a PE ratio of -1.71 and a beta of 1.72. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. The company had revenue of $107.04 million during 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 fiscal year.

Insiders Place Their Bets

In related 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 value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Mansi Khetani sold 19,007 shares of the company’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 $26,609.80. Following the completion of the sale, the chief financial officer now directly owns 402,493 shares in the company, valued at approximately $563,490.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Henrik Gerdes sold 43,596 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total value of $65,394.00. Following the completion of the transaction, 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. In the last ninety days, insiders have sold 95,099 shares of company stock valued at $137,498. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds 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 $26,000. CreativeOne Wealth LLC acquired a new stake in ChargePoint in the 1st quarter valued at $30,000. RWA Wealth Partners LLC purchased a new position in ChargePoint in the fourth quarter valued at about $31,000. PDS Planning Inc acquired a new position in shares of ChargePoint during the first quarter worth about $31,000. Finally, Sigma Planning Corp purchased a new stake in shares of ChargePoint in the fourth quarter worth about $33,000. 37.77% of the stock is currently 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.