ChargePoint Holdings, Inc. (NYSE:CHPT) Short Interest Up 10.0% in November

ChargePoint Holdings, Inc. (NYSE:CHPT) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 129,640,000 shares, an increase of 10.0% from the October 31st total of 117,830,000 shares. Currently, 33.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,180,000 shares, the short-interest ratio is currently 10.6 days.

Wall Street Analysts Forecast Growth

CHPT has been the subject of a number of research reports. Evercore ISI dropped their price target on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. The Goldman Sachs Group cut their price target on ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research note on Friday, September 6th. TD Cowen downgraded ChargePoint from a “buy” rating to a “hold” rating and lowered their price objective for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, UBS Group decreased their price target on shares of ChargePoint from $1.80 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ChargePoint has a consensus rating of “Hold” and a consensus target price of $2.47.

Insider Activity

In related news, CEO Richard Wilmer sold 27,252 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the sale, the chief executive officer now owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction on Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the transaction, the chief accounting officer now owns 390,596 shares in the company, valued at approximately $515,586.72. The trade was a 6.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,803 shares of company stock worth $135,295. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several large investors have recently made changes to their positions in CHPT. CIBC Asset Management Inc boosted its holdings in ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after acquiring an additional 5,770 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of ChargePoint by 41.4% in the 2nd quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock worth $39,000 after purchasing an additional 7,723 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in ChargePoint by 6.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock valued at $259,000 after purchasing an additional 7,838 shares during the period. PFG Investments LLC increased its stake in ChargePoint by 32.2% during the 2nd quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock valued at $51,000 after purchasing an additional 8,297 shares in the last quarter. Finally, Jeppson Wealth Management LLC raised its holdings in ChargePoint by 28.3% during the third quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock worth $59,000 after buying an additional 9,480 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Trading Up 1.3 %

CHPT stock traded up $0.02 during mid-day trading on Wednesday, reaching $1.18. The company’s stock had a trading volume of 7,386,492 shares, compared to its average volume of 13,349,956. ChargePoint has a 12 month low of $1.05 and a 12 month high of $3.13. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average price is $1.26 and its 200 day moving average price is $1.57. The company has a market cap of $507.11 million, a price-to-earnings ratio of -1.17 and a beta of 1.69.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. The company had revenue of $108.54 million for the quarter, compared to the consensus estimate of $114.15 million. On average, equities research analysts predict that ChargePoint will post -0.56 EPS for the current year.

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.