ChargePoint (NYSE:CHPT) Trading 4.8% Higher

ChargePoint Holdings, Inc. (NYSE:CHPT)’s share price traded up 4.8% on Friday . The stock traded as high as $1.77 and last traded at $1.74. 5,556,977 shares were traded during mid-day trading, a decline of 61% from the average session volume of 14,137,871 shares. The stock had previously closed at $1.66.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. B. Riley upgraded ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Benchmark cut their price objective on ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a report on Friday, June 28th. The Goldman Sachs Group restated a “sell” rating and issued a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Needham & Company LLC restated a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Thursday, June 6th. Finally, TD Cowen reduced their target price on ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, ChargePoint presently has a consensus rating of “Hold” and a consensus price target of $4.88.

ChargePoint Stock Performance

The company has a current ratio of 2.13, a quick ratio of 1.45 and a debt-to-equity ratio of 1.02. The firm has a 50-day simple moving average of $1.64 and a two-hundred day simple moving average of $1.84. The company has a market capitalization of $766.03 million, a price-to-earnings ratio of -1.53 and a beta of 1.72.

ChargePoint (NYSE:CHPT) last issued its earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. The company had revenue of $107.04 million for the quarter, compared to analyst estimates of $106.09 million. As a group, sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Richard Wilmer sold 27,722 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,264,436. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Richard Wilmer sold 27,722 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,264,436. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Henrik Gerdes sold 43,596 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold a total of 95,099 shares of company stock valued at $137,498 in the last three months. Insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several hedge funds have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina boosted its stake in ChargePoint by 3.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock valued at $319,000 after purchasing an additional 4,910 shares during the period. Independent Advisor Alliance lifted its position in shares of ChargePoint by 34.2% in the 4th quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock worth $47,000 after acquiring an additional 5,085 shares during the period. O ROURKE & COMPANY Inc lifted its position in shares of ChargePoint by 34.2% in the 4th quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock worth $57,000 after acquiring an additional 6,207 shares during the period. Core Wealth Management Inc. lifted its position in shares of ChargePoint by 46.8% in the 4th quarter. Core Wealth Management Inc. now owns 20,015 shares of the company’s stock worth $47,000 after acquiring an additional 6,380 shares during the period. Finally, Bouvel Investment Partners LLC lifted its position in shares of ChargePoint by 5.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 127,018 shares of the company’s stock worth $297,000 after acquiring an additional 6,524 shares during the period. Institutional investors 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.