ChargePoint (NYSE:CHPT) Sees Large Volume Increase

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) saw an uptick in trading volume on Tuesday . 5,709,053 shares were traded during trading, a decline of 61% from the previous session's volume of 14,531,433 shares.The stock last traded at $1.72 and had previously closed at $1.85.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHPT. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $3.00 price target (down previously from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. Oppenheimer reaffirmed a "market perform" rating on shares of ChargePoint in a report on Wednesday, March 6th. Benchmark reaffirmed a "buy" rating and set a $4.25 price target on shares of ChargePoint in a report on Wednesday, March 6th. DA Davidson reaffirmed a "buy" rating and set a $4.00 price target on shares of ChargePoint in a report on Wednesday, March 6th. Finally, R. F. Lafferty dropped their price target on shares of ChargePoint from $4.00 to $3.00 and set a "hold" rating on the stock in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.14.

ChargePoint Stock Performance

The company has a market cap of $739.91 million, a P/E ratio of -1.43 and a beta of 1.62. The business's 50 day simple moving average is $1.94 and its 200 day simple moving average is $2.46. 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 released its earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.01. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. The company had revenue of $115.83 million for the quarter, compared to analysts' expectations of $126.48 million. Sell-side analysts predict that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the sale, the chief financial officer now owns 421,500 shares in the company, valued at $788,205. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the sale, the chief financial officer now owns 421,500 shares in the company, valued at $788,205. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Linse sold 100,000 shares of ChargePoint stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the sale, the director now owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,846 shares of company stock worth $296,562. Company insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of ChargePoint by 8.1% in the first quarter. Bank of New York Mellon Corp now owns 652,385 shares of the company's stock valued at $12,969,000 after purchasing an additional 48,903 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of ChargePoint by 46.4% in the first quarter. HighTower Advisors LLC now owns 30,579 shares of the company's stock valued at $610,000 after purchasing an additional 9,689 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of ChargePoint by 152.8% in the first quarter. Private Advisor Group LLC now owns 35,608 shares of the company's stock valued at $708,000 after purchasing an additional 21,524 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of ChargePoint in the first quarter valued at $213,000. Finally, MetLife Investment Management LLC purchased a new position in shares of ChargePoint in the first quarter valued at $91,000. 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.