ChargePoint (NYSE:CHPT) Sets New 1-Year Low at $1.22

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.22 and last traded at $1.23, with a volume of 6052295 shares trading hands. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CHPT. The Goldman Sachs Group restated a "sell" rating and set a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. Needham & Company LLC restated a "buy" rating and set a $3.00 price objective on shares of ChargePoint in a research note on Thursday, April 4th. Benchmark restated a "buy" rating and set a $4.25 price objective on shares of ChargePoint in a research note on Wednesday, March 6th. R. F. Lafferty cut their price objective on ChargePoint from $4.00 to $3.00 and set a "hold" rating on the stock in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, ChargePoint has a consensus rating of "Hold" and an average price target of $6.14.

ChargePoint Stock Performance

The business has a 50 day simple moving average of $1.84 and a 200-day simple moving average of $2.23. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.25. The stock has a market capitalization of $568.52 million, a P/E ratio of -1.10 and a beta of 1.62.

ChargePoint (NYSE:CHPT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. The firm had revenue of $115.83 million during the quarter, compared to analyst estimates of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. On average, analysts predict that ChargePoint Holdings, Inc. will post -0.63 EPS for the current year.

Insider Activity

In other news, CFO Mansi Khetani sold 19,035 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the sale, the chief financial officer now owns 421,500 shares in the company, valued at approximately $788,205. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mansi Khetani sold 19,035 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the sale, the chief financial officer now owns 421,500 shares in the company, valued at $788,205. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Wilmer sold 25,376 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the sale, the chief executive officer now owns 2,359,462 shares of the company's stock, valued at approximately $4,412,193.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,846 shares of company stock worth $296,562. Insiders own 12.90% of the company's stock.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of the company. Meridian Wealth Management LLC increased its position in ChargePoint by 16.3% during the third quarter. Meridian Wealth Management LLC now owns 21,810 shares of the company's stock worth $108,000 after buying an additional 3,060 shares during the last quarter. Mutual Advisors LLC grew its position in shares of ChargePoint by 9.2% in the third quarter. Mutual Advisors LLC now owns 43,910 shares of the company's stock valued at $218,000 after purchasing an additional 3,700 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of ChargePoint by 15.2% in the third quarter. Principal Financial Group Inc. now owns 34,480 shares of the company's stock valued at $171,000 after purchasing an additional 4,537 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of ChargePoint by 3.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company's stock valued at $319,000 after purchasing an additional 4,910 shares during the last quarter. Finally, Independent Advisor Alliance grew its position in shares of ChargePoint by 34.2% in the fourth quarter. Independent Advisor Alliance now owns 19,945 shares of the company's stock valued at $47,000 after purchasing an additional 5,085 shares during the last quarter. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

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.