ChargePoint (NYSE:CHPT) Trading 4.8% Higher

ChargePoint Holdings, Inc. (NYSE:CHPT) was up 4.8% on Friday . The stock traded as high as $1.43 and last traded at $1.43. Approximately 2,482,999 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 13,774,912 shares. The stock had previously closed at $1.36.

Wall Street Analysts Forecast Growth

CHPT has been the topic of several research analyst reports. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. Wolfe Research began coverage on shares of ChargePoint in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Benchmark reissued a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a research note on Thursday, September 5th. Royal Bank of Canada decreased their target price 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. Finally, Needham & Company LLC dropped their price target on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ChargePoint presently has an average rating of “Hold” and a consensus target price of $3.39.

ChargePoint Stock Performance

The company has a market cap of $610.69 million, a P/E ratio of -1.14 and a beta of 1.70. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $1.71 and a two-hundred day simple moving average of $1.70.

Insider Transactions at ChargePoint

In related news, CEO Richard Wilmer sold 27,252 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 2,304,489 shares in the company, valued at $3,111,060.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Richard Wilmer sold 27,252 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $36,790.20. Following the transaction, the chief executive officer now directly owns 2,304,489 shares of the company’s stock, valued at approximately $3,111,060.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mansi Khetani sold 23,409 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now directly owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. The disclosure for this sale can be found here. Insiders have sold 74,515 shares of company stock worth $100,595 in the last quarter. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Several large investors have recently added to or reduced their stakes in CHPT. Vanguard Group Inc. boosted its stake in shares of ChargePoint by 26.3% in the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after acquiring an additional 7,645,210 shares during the period. Point72 Asset Management L.P. bought a new position in ChargePoint in the 2nd quarter worth approximately $13,007,000. Norges Bank purchased a new stake in ChargePoint during the 4th quarter valued at approximately $9,733,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of ChargePoint by 62.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock valued at $2,452,000 after buying an additional 621,536 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ChargePoint by 60.1% in the second quarter. Bank of New York Mellon Corp now owns 1,298,289 shares of the company’s stock worth $1,960,000 after buying an additional 487,262 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

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.