ChargePoint (NYSE:CHPT) Shares Up 7%

ChargePoint Holdings, Inc. (NYSE:CHPT) shares rose 7% on Tuesday . The stock traded as high as $2.15 and last traded at $2.14. Approximately 8,862,530 shares changed hands during trading, a decline of 39% from the average daily volume of 14,487,730 shares. The stock had previously closed at $2.00.

Wall Street Analyst Weigh In

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

ChargePoint Stock Up 4.7 %

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 company has a market capitalization of $855.19 million, a price-to-earnings ratio of -1.71 and a beta of 1.72. The business’s 50-day moving average is $1.76 and its 200-day moving average is $1.80.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $106.09 million. As a group, equities analysts predict that ChargePoint Holdings, Inc. will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction on Thursday, June 20th. The shares were 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mansi Khetani sold 19,007 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the completion of the sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at $563,490.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Henrik Gerdes sold 43,596 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 438,004 shares in the company, valued at $657,006. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,099 shares of company stock worth $137,498. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ChargePoint

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in ChargePoint by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock valued at $144,936,000 after purchasing an additional 3,325,694 shares during the last quarter. Ingalls & Snyder LLC acquired a new stake in ChargePoint during the fourth quarter worth $33,000. Susquehanna Fundamental Investments LLC purchased a new stake in ChargePoint in the first quarter valued at $258,000. M&T Bank Corp lifted its stake in shares of ChargePoint by 484.7% in the 4th quarter. M&T Bank Corp now owns 73,396 shares of the company’s stock valued at $172,000 after purchasing an additional 60,843 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of ChargePoint during the 4th quarter worth $266,000. 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.