ChargePoint (NYSE:CHPT) Shares Down 3.9%

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) was down 3.9% during trading on Monday . The stock traded as low as $1.82 and last traded at $1.83. Approximately 1,292,150 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 14,721,446 shares. The stock had previously closed at $1.90.

Analysts Set New Price Targets

CHPT has been the subject of several research analyst reports. R. F. Lafferty cut their target price on ChargePoint from $4.00 to $3.00 and set a "hold" rating for the company in a research report on Wednesday, March 6th. B. Riley lowered ChargePoint from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $5.00 to $2.50 in a research note on Thursday, December 7th. 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. Benchmark reaffirmed a "buy" rating and set a $4.25 target price on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, 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. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.17.

ChargePoint Trading Down 4.2 %

The company has a 50 day moving average of $1.96 and a two-hundred day moving average of $2.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.34. The stock has a market capitalization of $760.81 million, a PE ratio of -1.47 and a beta of 1.62.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. ChargePoint had a negative return on equity of 124.81% and a negative net margin of 90.32%. The firm had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. Sell-side analysts predict that ChargePoint Holdings, Inc. will post -0.63 EPS for the current year.

Insider Buying and Selling

In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the business's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the sale, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the business's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the sale, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mansi Khetani sold 19,035 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were 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 directly owns 421,500 shares of the company's stock, valued at approximately $788,205. The disclosure for this sale can be found here. Insiders have sold a total of 154,846 shares of company stock worth $296,562 in the last ninety days. 12.90% of the stock is owned by insiders.

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently modified their holdings of the stock. American International Group Inc. lifted its holdings in shares of ChargePoint by 30.0% in the 2nd quarter. American International Group Inc. now owns 3,101 shares of the company's stock valued at $42,000 after buying an additional 716 shares during the period. First Manhattan Co. raised its holdings in ChargePoint by 65.4% in the 1st quarter. First Manhattan Co. now owns 3,085 shares of the company's stock worth $61,000 after purchasing an additional 1,220 shares during the period. Boothbay Fund Management LLC raised its holdings in ChargePoint by 4.2% in the 4th quarter. Boothbay Fund Management LLC now owns 35,083 shares of the company's stock worth $334,000 after purchasing an additional 1,406 shares during the period. Hsbc Holdings PLC raised its holdings in ChargePoint by 7.4% in the 1st quarter. Hsbc Holdings PLC now owns 23,208 shares of the company's stock worth $463,000 after purchasing an additional 1,608 shares during the period. Finally, Captrust Financial Advisors raised its holdings in ChargePoint by 12.5% in the 4th quarter. Captrust Financial Advisors now owns 14,554 shares of the company's stock worth $139,000 after purchasing an additional 1,617 shares during the period. Institutional investors and hedge funds 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.