ChargePoint (NYSE:CHPT) Hits New 52-Week Low at $1.51

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.51 and last traded at $1.54, with a volume of 1922773 shares changing hands. The stock had previously closed at $1.58.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CHPT. The Goldman Sachs Group restated a "sell" rating and issued a $1.50 price objective (down from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Oppenheimer restated a "market perform" rating on shares of ChargePoint in a research report on Wednesday, March 6th. DA Davidson restated a "buy" rating and issued a $4.00 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. Needham & Company LLC restated a "buy" rating and issued a $3.00 price objective on shares of ChargePoint in a research report on Thursday, April 4th. Finally, R. F. Lafferty lowered their price objective on ChargePoint from $4.00 to $3.00 and set a "hold" rating on the stock in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $6.14.

ChargePoint Stock Performance

The firm has a market capitalization of $629.14 million, a PE ratio of -1.21 and a beta of 1.62. The business has a 50-day simple moving average of $1.90 and a 200-day simple moving average of $2.32. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. The company had revenue of $115.83 million for the quarter, compared to analysts' expectations of $126.48 million. Equities research analysts expect that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the company's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the sale, the chief executive officer now owns 2,359,462 shares in the company, valued at $4,412,193.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the company's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the sale, the chief executive officer now owns 2,359,462 shares in the company, valued at $4,412,193.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael Linse sold 100,000 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the sale, the director now owns 1,209,867 shares of the company's stock, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. Insiders have sold a total of 154,846 shares of company stock valued at $296,562 over the last quarter. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Balentine LLC purchased a new position in ChargePoint in the 4th quarter worth $26,000. Comerica Bank purchased a new position in ChargePoint in the 3rd quarter worth $26,000. Pathstone Holdings LLC purchased a new position in ChargePoint in the 4th quarter worth $30,000. RWA Wealth Partners LLC purchased a new position in ChargePoint in the 4th quarter worth $31,000. Finally, Ingalls & Snyder LLC purchased a new position in ChargePoint in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 37.77% of the company's stock.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.