ChargePoint (NYSE:CHPT) Trading Up 7.2%

ChargePoint Holdings, Inc. (NYSE:CHPT) shot up 7.2% during mid-day trading on Thursday . The company traded as high as $1.51 and last traded at $1.50. 3,110,554 shares changed hands during trading, a decline of 77% from the average session volume of 13,743,686 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHPT. Oppenheimer restated a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. B. Riley raised shares of ChargePoint to a “hold” rating in a research note on Tuesday. DA Davidson reaffirmed a “buy” rating and issued a $4.00 price target on shares of ChargePoint in a research note on Wednesday, March 6th. Benchmark reissued a “buy” rating and issued a $4.25 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target (down from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and an average price target of $4.96.

ChargePoint Price Performance

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 firm has a 50 day moving average price of $1.62 and a 200 day moving average price of $1.88. The stock has a market cap of $620.22 million, a P/E ratio of -1.19 and a beta of 1.74.

Insider Buying and Selling

In related news, CAO Henrik Gerdes sold 43,596 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the completion of the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ChargePoint news, CEO Richard Wilmer sold 27,722 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 transaction of $38,810.80. Following the transaction, the chief executive officer now owns 2,331,740 shares in the company, valued at $3,264,436. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Henrik Gerdes sold 43,596 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total value of $65,394.00. Following the transaction, the chief accounting officer now owns 438,004 shares in the company, valued at approximately $657,006. The disclosure for this sale can be found here. In the last three months, insiders sold 95,099 shares of company stock valued at $137,498. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently made changes to their positions in CHPT. Balentine LLC acquired a new stake in ChargePoint during the fourth quarter worth $26,000. CreativeOne Wealth LLC acquired a new stake in shares of ChargePoint in the first quarter valued at $30,000. RWA Wealth Partners LLC purchased a new position in ChargePoint in the fourth quarter valued at $31,000. PDS Planning Inc purchased a new position in ChargePoint in the first quarter valued at $31,000. Finally, Ingalls & Snyder LLC purchased a new position in ChargePoint in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

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.