ChargePoint Holdings, Inc. (NYSE:CHPT) Short Interest Update

ChargePoint Holdings, Inc. (NYSE:CHPT) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 129,640,000 shares, a growth of 10.0% from the October 31st total of 117,830,000 shares. Currently, 33.0% of the shares of the company are sold short. Based on an average daily trading volume, of 12,180,000 shares, the days-to-cover ratio is currently 10.6 days.

ChargePoint Stock Performance

CHPT traded up $0.02 during trading hours on Wednesday, reaching $1.18. The company’s stock had a trading volume of 7,781,639 shares, compared to its average volume of 13,351,481. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. The company’s 50-day moving average is $1.26 and its 200-day moving average is $1.57. ChargePoint has a 52 week low of $1.05 and a 52 week high of $3.13. The firm has a market cap of $507.11 million, a PE ratio of -1.17 and a beta of 1.69.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). The firm had revenue of $108.54 million during the quarter, compared to the consensus estimate of $114.15 million. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. On average, equities analysts forecast that ChargePoint will post -0.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CHPT shares. Royal Bank of Canada dropped their price target on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Thursday, September 5th. Capital One Financial upgraded ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Wolfe Research initiated coverage on ChargePoint in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Evercore ISI cut their target price on ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, TD Cowen lowered ChargePoint from a “buy” rating to a “hold” rating and decreased their target price for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.47.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 23,409 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the completion of the sale, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Wilmer sold 27,252 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the transaction, the chief executive officer now owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,803 shares of company stock worth $135,295. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHPT. CIBC Asset Management Inc grew its position in shares of ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after buying an additional 5,770 shares during the period. Financial Advocates Investment Management acquired a new stake in ChargePoint in the third quarter valued at approximately $29,000. Delap Wealth Advisory LLC acquired a new stake in ChargePoint in the second quarter valued at approximately $31,000. Perennial Investment Advisors LLC grew its stake in ChargePoint by 74.4% in the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock valued at $37,000 after acquiring an additional 10,400 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in ChargePoint by 152.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock valued at $38,000 after acquiring an additional 15,358 shares during the period. 37.77% of the stock is currently owned by institutional investors.

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.