ChargePoint (NYSE:CHPT) Stock Price Up 6.3%

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) traded up 6.3% during mid-day trading on Monday . The company traded as high as $1.39 and last traded at $1.35. 4,443,051 shares were traded during mid-day trading, a decline of 68% from the average session volume of 14,063,885 shares. The stock had previously closed at $1.27.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Oppenheimer restated a "market perform" rating on shares of ChargePoint in a research note on Wednesday, March 6th. The Goldman Sachs Group reissued a "sell" rating and issued a $1.50 price target (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Benchmark reaffirmed a "buy" rating and set a $4.25 price objective on shares of ChargePoint in a 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 note on Wednesday, March 6th. Finally, R. F. Lafferty decreased their price target on shares of ChargePoint from $4.00 to $3.00 and set a "hold" rating on the stock in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.46.

ChargePoint Stock Performance

The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $555.98 million, a PE ratio of -1.07 and a beta of 1.62. The firm's 50-day simple moving average is $1.75 and its 200-day simple moving average is $2.14.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. On average, research analysts predict that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael Linse sold 100,000 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total value of $194,000.00. Following the completion of the sale, the director now owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael Linse sold 100,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,209,867 shares of the company's stock, valued at approximately $2,347,141.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer now owns 421,500 shares of the company's stock, valued at approximately $788,205. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,846 shares of company stock valued at $296,562. 12.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On ChargePoint

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in ChargePoint in the 4th quarter valued at about $9,733,000. Vanguard Group Inc. increased its stake in shares of ChargePoint by 12.9% during the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company's stock worth $144,936,000 after purchasing an additional 3,325,694 shares in the last quarter. Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 2,035,496 shares during the last quarter. Cadian Capital Management LP purchased a new stake in ChargePoint in the 3rd quarter valued at approximately $4,970,000. Finally, Quadrature Capital Ltd purchased a new position in ChargePoint during the fourth quarter worth $1,257,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

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.