ChargePoint Target of Unusually Large Options Trading (NYSE:CHPT)

Key Points

• ChargePoint Holdings, Inc. experienced an 86% increase in call options trading, with investors acquiring 11,357 call options on Monday.
• Institutional ownership in ChargePoint has reached 37.77%, with significant increases from Hsbc Holdings PLC and Trueblood Wealth Management LLC in recent quarters.
• The company reported a quarterly loss of ($2.00) earnings per share, falling short of analysts' expectations and indicating ongoing challenges in achieving profitability.

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) was the recipient of some unusual options trading on Monday. Investors acquired 11,357 call options on the stock. Thisisanincreaseof86% compared to the typical volume of 6,090 call options.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHPT. Hsbc Holdings PLC lifted its position in ChargePoint by 31.2% in the first quarter. Hsbc Holdings PLC now owns 64,567 shares of the company's stock worth $38,000 after purchasing an additional 15,366 shares during the period. Trueblood Wealth Management LLC lifted its position in ChargePoint by 100.0% in the second quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company's stock worth $28,000 after purchasing an additional 20,000 shares during the period. MetLife Investment Management LLC lifted its position in ChargePoint by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 251,168 shares of the company's stock worth $269,000 after purchasing an additional 22,369 shares during the period. Price T Rowe Associates Inc. MD lifted its position in ChargePoint by 9.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 273,140 shares of the company's stock worth $293,000 after purchasing an additional 23,370 shares during the period. Finally, Perennial Advisors LLC acquired a new stake in ChargePoint in the fourth quarter worth approximately $26,000. 37.77% of the stock is owned by institutional investors.

ChargePoint Stock Performance

CHPT stock traded up $0.51 during midday trading on Monday, reaching $12.43. The company had a trading volume of 577,041 shares, compared to its average volume of 1,018,330. The company has a quick ratio of 1.12, a current ratio of 1.82 and a debt-to-equity ratio of 2.60. The stock has a 50 day moving average price of $12.79 and a 200 day moving average price of $13.38. The firm has a market capitalization of $284.77 million, a PE ratio of -1.04 and a beta of 2.23. ChargePoint has a fifty-two week low of $8.55 and a fifty-two week high of $40.00.

ChargePoint (NYSE:CHPT - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported ($2.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.00) by ($1.00). ChargePoint had a negative return on equity of 131.65% and a negative net margin of 65.79%. The business had revenue of $97.64 million during the quarter, compared to the consensus estimate of $100.43 million. During the same period last year, the company earned ($2.20) earnings per share. Analysts anticipate that ChargePoint will post -0.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen raised ChargePoint to a "hold" rating in a report on Monday, July 7th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $20.00 price objective on shares of ChargePoint in a report on Thursday, June 5th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ChargePoint has an average rating of "Hold" and an average target price of $27.88.

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.

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