ChargePoint (NYSE:CHPT) Trading 7.5% Higher

ChargePoint Holdings, Inc. (NYSE:CHPT) traded up 7.5% on Friday . The stock traded as high as $2.09 and last traded at $2.09. 1,762,735 shares were traded during mid-day trading, a decline of 87% from the average session volume of 14,087,835 shares. The stock had previously closed at $1.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $1.50 target price (down from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. TD Cowen decreased their target price on ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Benchmark decreased their target price on ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a research note on Friday, June 28th. B. Riley raised ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.88.

ChargePoint Stock Performance

The firm has a 50 day moving average of $1.69 and a 200-day moving average of $1.82. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13. The stock has a market capitalization of $886.94 million, a PE ratio of -1.79 and a beta of 1.72.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $106.09 million. Research analysts forecast that ChargePoint Holdings, Inc. will post -0.54 earnings per share for the current year.

Insider Transactions at ChargePoint

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 ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the firm’s 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 sale, the chief accounting officer now owns 438,004 shares of the company’s stock, valued at approximately $657,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Wilmer sold 27,722 shares of the firm’s 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 $38,810.80. Following the completion of the sale, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at approximately $3,264,436. The disclosure for this sale can be found here. Insiders sold 95,099 shares of company stock valued at $137,498 in the last three months. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of ChargePoint by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after acquiring an additional 3,325,694 shares during the period. Ingalls & Snyder LLC bought a new stake in shares of ChargePoint in the 4th quarter worth approximately $33,000. Wellington Management Group LLP lifted its position in shares of ChargePoint by 418.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after acquiring an additional 2,035,496 shares during the period. M&T Bank Corp lifted its position in shares of ChargePoint by 484.7% during the 4th quarter. M&T Bank Corp now owns 73,396 shares of the company’s stock worth $172,000 after buying an additional 60,843 shares during the period. Finally, Oak Thistle LLC bought a new position in shares of ChargePoint during the 4th quarter worth approximately $266,000. 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.