ChargePoint (NYSE:CHPT) Trading 4.8% Higher

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) traded up 4.8% during mid-day trading on Friday . The stock traded as high as $1.77 and last traded at $1.74. 5,556,977 shares were traded during mid-day trading, a decline of 61% from the average session volume of 14,137,871 shares. The stock had previously closed at $1.66.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. B. Riley upgraded ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group reiterated a “sell” rating and issued a $1.50 price target (down from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. Benchmark cut their price target on ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a research note on Friday, June 28th. TD Cowen cut their target price on ChargePoint from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, twelve 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 a consensus price target of $4.88.

ChargePoint Stock Up 9.0 %

The firm has a market capitalization of $766.03 million, a price-to-earnings ratio of -1.53 and a beta of 1.72. The stock has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.13 and a quick ratio of 1.45.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. The firm had revenue of $107.04 million during the quarter, compared to the consensus estimate of $106.09 million. Sell-side analysts anticipate that ChargePoint Holdings, Inc. will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Henrik Gerdes sold 43,596 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $1.50, for a total transaction of $65,394.00. Following the transaction, the chief accounting officer now owns 438,004 shares of the company’s stock, valued at approximately $657,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mansi Khetani sold 19,007 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the transaction, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Henrik Gerdes sold 43,596 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the transaction, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,099 shares of company stock worth $137,498. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in ChargePoint by 26.3% in the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after acquiring an additional 7,645,210 shares in the last quarter. Norges Bank bought a new position in ChargePoint in the 4th quarter valued at about $9,733,000. Wellington Management Group LLP lifted 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 buying an additional 2,035,496 shares in the last quarter. Invesco Ltd. lifted its position in shares of ChargePoint by 19.2% during the 3rd quarter. Invesco Ltd. now owns 2,193,049 shares of the company’s stock worth $10,899,000 after buying an additional 353,988 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of ChargePoint by 23.2% during the 1st quarter. Swiss National Bank now owns 742,900 shares of the company’s stock worth $1,412,000 after buying an additional 139,700 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

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.