ChargePoint (NYSE:CHPT) Shares Gap Down to $11.93

ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) gapped down prior to trading on Thursday . The stock had previously closed at $11.93, but opened at $11.56. ChargePoint shares last traded at $11.33, with a volume of 45,901 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CHPT shares. Piper Sandler cut their target price on ChargePoint from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, December 22nd. Cowen cut their target price on ChargePoint to $20.00 in a research note on Monday, November 28th. R. F. Lafferty cut their target price on ChargePoint from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, December 5th. B. Riley dropped their price objective on ChargePoint from $20.00 to $18.00 in a research note on Monday, November 7th. Finally, JPMorgan Chase & Co. dropped their price objective on ChargePoint from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, December 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.64.

ChargePoint Stock Performance

The firm has a fifty day moving average of $10.80 and a 200-day moving average of $13.31. The firm has a market cap of $3.79 billion, a P/E ratio of -10.77 and a beta of 1.65. The company has a quick ratio of 2.43, a current ratio of 2.69 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPT – Get Rating) last posted its quarterly earnings results on Thursday, December 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The firm had revenue of $125.34 million during the quarter, compared to the consensus estimate of $131.35 million. ChargePoint had a negative net margin of 82.57% and a negative return on equity of 74.82%. Research analysts predict that ChargePoint Holdings, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Activity at ChargePoint

In other news, Director Michael Linse sold 508,101 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $10.08, for a total transaction of $5,121,658.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider William J. Loewenthal sold 3,115 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $14.03, for a total transaction of $43,703.45. Following the completion of the transaction, the insider now directly owns 435,943 shares in the company, valued at approximately $6,116,280.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Linse sold 508,101 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $10.08, for a total value of $5,121,658.08. The disclosure for this sale can be found here. Insiders have sold a total of 736,621 shares of company stock worth $7,362,337 over the last 90 days. Insiders own 23.64% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Several institutional investors have recently modified their holdings of CHPT. Total Clarity Wealth Management Inc. bought a new position in shares of ChargePoint during the 2nd quarter valued at about $26,000. Guardian Wealth Advisors LLC bought a new position in shares of ChargePoint during the 3rd quarter valued at about $26,000. Armstrong Advisory Group Inc. bought a new position in shares of ChargePoint during the 4th quarter valued at about $26,000. CoreCap Advisors LLC bought a new position in shares of ChargePoint during the 2nd quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC bought a new position in shares of ChargePoint during the 2nd quarter valued at about $31,000. Institutional investors own 44.87% of the company’s stock.

ChargePoint Company Profile

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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.