ChargePoint (NYSE:CHPT) stock gap drops to $1.38

The shares of ChargePoint Holdings, Inc. (NYSE:CHPT – Get a Free Report) fell ahead of trading on Friday. The stock previously closed at $1.38, but opened at $1.34. ChargePoint shares last traded at $1.39, on volume of 966,516 shares.

Analyst upgrades and downgrades

Several research analysts have weighed in on CHPT stock. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Thursday, April 4. Benchmark reiterated a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a research note on Wednesday, March 6. Royal Bank of Canada reissued a “sector perform” rating and a $3.00 price target (down from $3.50) on shares of ChargePoint in a report on Wednesday, March 6. Finally, The Goldman Sachs Group reissued a “sell” rating and a $1.50 price target (up from $2.00) on shares of ChargePoint in a report on Tuesday, April 9. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and an average target price of $6.14.

Check out our latest research report on ChargePoint

ChargePoint Stock Performance

The company has a fifty-day moving average of $1.86 and a 200-day moving average of $2.27. The stock has a market cap of $568.52 million, a price-to-earnings ratio of -1.10 and a beta of 1.62. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPT – Get Free Report) last posted its quarterly earnings data on Tuesday, March 5. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. The company had revenue of $115.83 million during the quarter, compared to analyst expectations of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. As a group, sell-side analysts expect ChargePoint Holdings, Inc. will post an earnings per share of -0.63 for the current year.

Buying and selling with insider information

In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction on Thursday, March 21. The stock sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the transaction, the CEO now owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction on Thursday, March 21. The stock sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the transaction, the CEO now owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. Director Michael Linse also sold 100,000 shares of the company’s stock in a transaction on Thursday, March 7. The shares sold at an average price of $1.94, for a total value of $194,000.00. Following the transaction, the director now directly owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The explanation of this sale can be found here. Over the last ninety days, insiders have sold 154,846 shares of the company’s stock, valued at $296,562. 12.90% of the shares are owned by insiders.

Hedge funds weigh heavily on ChargePoint

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. expanded its position in ChargePoint shares by 12.9% in the third 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 period. BlackRock Inc. expanded its position in ChargePoint shares by 14.6% in the second quarter. BlackRock Inc. now owns 15,217,487 shares of the company’s stock valued at $133,762,000 after purchasing an additional 1,939,710 shares during the period. State Street Corp increased its position in shares of ChargePoint by 5.7% in the second quarter. State Street Corp now owns 4,286,364 shares of the company’s stock valued at $37,677,000 after purchasing an additional 229,805 shares during the period. Norges Bank bought a new stake in shares of ChargePoint in the fourth quarter valued at $9,733,000. Finally, Geode Capital Management LLC increased its position in shares of ChargePoint by 8.3% in the second quarter. Geode Capital Management LLC now owns 3,942,418 shares of the company’s stock valued at $34,654,000 after purchasing an additional 301,687 shares during the period. Hedge funds and other institutional investors own 37.77% of the company’s shares.

ChargePoint Company Profile

(Get a free report)

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in North America and Europe. The company serves commercial, such as retail, workshop, hospitality, parking, recreation, municipal, education and highway fast charging; fleet, including delivery, take-home, logistics, motor pool, transit and shared mobility; and residential properties, including single-family homes and multi-family apartments and condominiums.

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