Investors Purchase Large Volume of Put Options on ChargePoint (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the target of unusually large options trading on Thursday. Traders bought 53,715 put options on the company. This represents an increase of approximately 21% compared to the typical daily volume of 44,483 put options.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of ChargePoint in a research report on Thursday. They set a “peer perform” rating for the company. TD Cowen downgraded shares of ChargePoint from a “buy” rating to a “hold” rating and dropped their target price for the company from $3.00 to $2.00 in a report on Thursday. B. Riley raised shares of ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Royal Bank of Canada dropped their price objective 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. Finally, Needham & Company LLC reduced their target price on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.92.

ChargePoint Trading Down 18.0 %

NYSE:CHPT opened at $1.39 on Friday. ChargePoint has a 52 week low of $1.21 and a 52 week high of $7.41. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02. The company has a market cap of $586.35 million, a PE ratio of -1.17 and a beta of 1.70. The business’s 50 day moving average is $1.86 and its two-hundred day moving average is $1.77.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Wednesday, June 5th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The firm had revenue of $107.04 million during the quarter, compared to the consensus estimate of $106.09 million. ChargePoint had a negative net margin of 93.05% and a negative return on equity of 127.18%. On average, analysts predict that ChargePoint will post -0.53 EPS for the current year.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 19,007 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at $563,490.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction 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 transaction, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,099 shares of company stock worth $137,498. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CHPT. Balentine LLC bought a new position in ChargePoint during the 4th quarter worth $26,000. Bridgecreek Investment Management LLC bought a new position in shares of ChargePoint during the fourth quarter worth about $33,000. Simmons Bank acquired a new stake in shares of ChargePoint in the 4th quarter worth about $35,000. CreativeOne Wealth LLC bought a new stake in ChargePoint in the 1st quarter valued at about $30,000. Finally, PDS Planning Inc acquired a new position in ChargePoint during the 1st quarter valued at about $31,000. 37.77% of the stock is currently owned by institutional investors.

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.