ChargePoint (NYSE:CHPT) Shares Gap Up to $1.72

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $1.72, but opened at $1.83. ChargePoint shares last traded at $2.06, with a volume of 7,275,723 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CHPT shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $3.00 target price (down from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. DA Davidson reaffirmed a "buy" rating and set a $4.00 target price on shares of ChargePoint in a research report on Wednesday, March 6th. Benchmark reaffirmed a "buy" rating and set a $4.25 target price on shares of ChargePoint in a research report on Wednesday, March 6th. R. F. Lafferty lowered their target price on ChargePoint from $4.00 to $3.00 and set a "hold" rating on the stock in a research report on Wednesday, March 6th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $1.50 target price (down from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $5.46.

ChargePoint Price Performance

The business has a fifty day moving average of $1.67 and a 200-day moving average of $2.04. The firm has a market cap of $773.36 million, a PE ratio of -1.52 and a beta of 1.69. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $115.83 million for the quarter, compared to analysts' expectations of $126.48 million. As a group, research analysts predict that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $47,453.12. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mansi Khetani sold 19,035 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $35,595.45. Following the transaction, the chief financial officer now directly owns 421,500 shares in the company, valued at approximately $788,205. The sale 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 dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the transaction, the chief executive officer now owns 2,359,462 shares in the company, valued at $4,412,193.94. 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 in the last 90 days. Corporate insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On ChargePoint

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in ChargePoint by 26.3% during the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company's stock worth $69,708,000 after acquiring an additional 7,645,210 shares during the last quarter. Norges Bank bought a new position in ChargePoint during the 4th quarter worth approximately $9,733,000. Wellington Management Group LLP grew its position in ChargePoint by 418.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company's stock worth $12,536,000 after acquiring an additional 2,035,496 shares during the last quarter. Cadian Capital Management LP bought a new position in ChargePoint during the 3rd quarter worth approximately $4,970,000. Finally, Quadrature Capital Ltd bought a new position in ChargePoint during the 4th quarter worth approximately $1,257,000. 37.77% of the stock is currently owned by institutional investors.

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.