ChargePoint Sees Unusually Large Options Volume (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the target of unusually large options trading on Tuesday. Stock investors purchased 79,522 call options on the company. This is an increase of approximately 99% compared to the average daily volume of 39,861 call options.

Insiders Place Their Bets

In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the transaction, the chief executive officer now owns 2,359,462 shares of the company’s stock, valued at approximately $4,412,193.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the sale, the chief financial officer now owns 421,500 shares in the company, valued at approximately $788,205. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the sale, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The disclosure for this sale can be found here. Insiders sold a total of 154,846 shares of company stock valued at $296,562 in the last 90 days. Corporate insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in ChargePoint by 12.9% during the third quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock valued at $144,936,000 after buying an additional 3,325,694 shares during the period. Ingalls & Snyder LLC bought a new stake in ChargePoint during the fourth quarter valued at $33,000. Wellington Management Group LLP boosted its stake in ChargePoint by 418.2% during the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after buying an additional 2,035,496 shares during the period. Kestra Advisory Services LLC boosted its stake in ChargePoint by 160.8% during the third quarter. Kestra Advisory Services LLC now owns 111,982 shares of the company’s stock valued at $557,000 after buying an additional 69,044 shares during the period. Finally, Oak Thistle LLC bought a new stake in ChargePoint during the fourth quarter valued at $266,000. 37.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price (down previously from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Benchmark restated a “buy” rating and set a $4.25 target price on shares of ChargePoint in a research report on Wednesday, March 6th. R. F. Lafferty cut their target price on ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, March 6th. Finally, DA Davidson restated a “buy” rating and set a $4.00 target price on shares of ChargePoint in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.14.

ChargePoint Price Performance

ChargePoint stock opened at $1.34 on Wednesday. ChargePoint has a one year low of $1.21 and a one year high of $10.10. The business has a fifty day moving average price of $1.82 and a 200-day moving average price of $2.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65. The firm has a market capitalization of $558.07 million, a P/E ratio of -1.08 and a beta of 1.62.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. The firm had revenue of $115.83 million during the quarter, compared to analyst estimates of $126.48 million. As a group, equities research analysts forecast that ChargePoint will post -0.63 EPS for the current year.

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.