Stock Traders Purchase High Volume of Call Options on ChargePoint (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 4,998 call options on the company. This is an increase of approximately 130% compared to the average daily volume of 2,173 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CHPT shares. B. Riley Financial decreased their price target on shares of ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. JPMorgan Chase & Co. dropped their price objective on shares of ChargePoint from $8.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 5th. The Goldman Sachs Group reiterated a “sell” rating and issued a $5.00 price objective on shares of ChargePoint in a report on Thursday, January 15th. UBS Group lowered their target price on ChargePoint from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $8.63.

Institutional Trading of ChargePoint

Institutional investors have recently made changes to their positions in the company. Focus Partners Wealth acquired a new position in ChargePoint in the first quarter valued at approximately $27,000. Rothschild Investment LLC increased its stake in ChargePoint by 233.3% during the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after acquiring an additional 3,500 shares during the last quarter. Corient Private Wealth LLC raised its position in ChargePoint by 57.1% in the second quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock valued at $47,000 after purchasing an additional 24,470 shares during the period. Pilgrim Partners Asia Pte Ltd raised its position in ChargePoint by 56.4% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock valued at $57,000 after purchasing an additional 3,100 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of ChargePoint in the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Trading Up 7.6%

Shares of CHPT opened at $4.85 on Wednesday. ChargePoint has a 12-month low of $4.44 and a 12-month high of $17.78. The firm has a market capitalization of $114.80 million, a P/E ratio of -0.52 and a beta of 1.40. The firm has a 50-day moving average price of $5.87 and a 200 day moving average price of $8.04. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 8.38.

About ChargePoint

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.