ChargePoint (NYSE:CHPT) Trading 6.8% Higher

ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating)’s share price shot up 6.8% during trading on Thursday . The stock traded as high as $19.49 and last traded at $19.42. 97,951 shares changed hands during trading, a decline of 99% from the average session volume of 10,289,187 shares. The stock had previously closed at $18.18.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CHPT shares. Credit Suisse Group began coverage on shares of ChargePoint in a research report on Wednesday, September 7th. They issued an “outperform” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on ChargePoint from $18.00 to $20.00 in a report on Tuesday, August 23rd. Stifel Nicolaus cut their target price on ChargePoint from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd. Piper Sandler lowered their price target on ChargePoint from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, June 1st. Finally, Evercore ISI cut their price objective on shares of ChargePoint from $28.00 to $24.00 in a research note on Wednesday, June 1st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, ChargePoint presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.13.

ChargePoint Price Performance

The company has a current ratio of 2.85, a quick ratio of 2.62 and a debt-to-equity ratio of 0.75. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -18.15 and a beta of 1.82. The business has a 50-day moving average price of $15.30 and a 200 day moving average price of $14.89.

ChargePoint (NYSE:CHPTGet Rating) last released its quarterly earnings results on Tuesday, August 30th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). ChargePoint had a negative net margin of 92.93% and a negative return on equity of 61.79%. The company had revenue of $108.29 million during the quarter, compared to analyst estimates of $103.03 million. During the same quarter last year, the business earned ($0.24) EPS. The company’s revenue for the quarter was up 93.0% compared to the same quarter last year. As a group, research analysts expect that ChargePoint Holdings, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ChargePoint news, insider Michael D. Hughes sold 4,790 shares of the business’s stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $13.63, for a total transaction of $65,287.70. Following the sale, the insider now directly owns 968,065 shares of the company’s stock, valued at approximately $13,194,725.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Michael D. Hughes sold 4,790 shares of the company’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $13.63, for a total value of $65,287.70. Following the transaction, the insider now owns 968,065 shares in the company, valued at approximately $13,194,725.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Colleen Jansen sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $19.00, for a total transaction of $266,000.00. Following the sale, the chief marketing officer now owns 589,597 shares of the company’s stock, valued at $11,202,343. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,912,270 shares of company stock valued at $26,367,587. Company insiders own 23.64% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

A number of hedge funds have recently modified their holdings of the stock. Great Valley Advisor Group Inc. acquired a new stake in shares of ChargePoint during the 1st quarter valued at about $217,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ChargePoint by 12.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,977 shares of the company’s stock worth $516,000 after purchasing an additional 2,876 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of ChargePoint during the 1st quarter valued at $126,000. West Oak Capital LLC lifted its stake in shares of ChargePoint by 111.3% in the 1st quarter. West Oak Capital LLC now owns 103,460 shares of the company’s stock valued at $2,057,000 after purchasing an additional 54,500 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in ChargePoint by 23.6% in the fourth quarter. Cetera Investment Advisers now owns 250,574 shares of the company’s stock worth $4,773,000 after purchasing an additional 47,766 shares in the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

ChargePoint Company Profile

(Get Rating)

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

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