Short Interest in ChargePoint Holdings, Inc. (NYSE:CHPT) Drops By 93.9%

Key Points

• ChargePoint Holdings, Inc. experienced a dramatic reduction in short interest, dropping from 73.93 million to 4.53 million shares in July, representing a 93.9% decrease.
• The company's stock saw a decrease of 2.7% in value, closing at $11.72, with a significant market capitalization of $268.51 million.
• ChargePoint's recent quarterly earnings report indicated a loss with an EPS of ($2.00), missing analysts' estimates by ($1.00) and revealing a revenue of $97.64 million.

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 4,530,000 shares, adropof93.9% from the July 15th total of 73,930,000 shares. Based on an average trading volume of 895,800 shares, the days-to-cover ratio is presently 5.1 days. Currently,19.4% of the shares of the stock are sold short. Currently,19.4% of the shares of the stock are sold short. Based on an average trading volume of 895,800 shares, the days-to-cover ratio is presently 5.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CHPT. Geode Capital Management LLC boosted its position in shares of ChargePoint by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 9,276,632 shares of the company's stock valued at $9,929,000 after acquiring an additional 204,464 shares during the last quarter. Invesco Ltd. raised its holdings in ChargePoint by 13.1% in the 4th quarter. Invesco Ltd. now owns 5,029,849 shares of the company's stock valued at $5,382,000 after buying an additional 583,761 shares during the period. Raymond James Financial Inc. purchased a new stake in ChargePoint in the 4th quarter valued at about $354,000. XTX Topco Ltd raised its holdings in ChargePoint by 124.0% in the 4th quarter. XTX Topco Ltd now owns 691,636 shares of the company's stock valued at $740,000 after buying an additional 382,850 shares during the period. Finally, PEAK6 LLC purchased a new stake in ChargePoint in the 4th quarter valued at about $150,000. Institutional investors and hedge funds own 37.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research note on Thursday, June 5th. TD Cowen raised shares of ChargePoint to a "hold" rating in a research note on Monday, July 7th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $20.00 target price on shares of ChargePoint in a research note on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, ChargePoint presently has a consensus rating of "Hold" and a consensus target price of $27.88.

ChargePoint Trading Down 3.2%

Shares of CHPT stock traded down $0.3950 on Tuesday, hitting $12.0550. 451,997 shares of the stock traded hands, compared to its average volume of 872,334. The firm's 50-day moving average price is $12.64 and its two-hundred day moving average price is $13.32. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.12 and a current ratio of 1.82. The stock has a market capitalization of $276.18 million, a PE ratio of -1.00 and a beta of 2.23. ChargePoint has a twelve month low of $8.55 and a twelve month high of $40.00.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported ($2.00) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.00). The firm had revenue of $97.64 million for the quarter, compared to analyst estimates of $100.43 million. ChargePoint had a negative net margin of 65.79% and a negative return on equity of 131.65%. During the same period in the previous year, the firm posted ($2.20) EPS. ChargePoint has set its Q2 2026 guidance at EPS. As a group, analysts anticipate that ChargePoint will post -0.57 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.