ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) shot up 6.8% during mid-day trading on Monday . The company traded as high as $1.33 and last traded at $1.32. 10,752,500 shares were traded during mid-day trading, a decline of 19% from the average session volume of 13,346,048 shares. The stock had previously closed at $1.24.
Several research firms have weighed in on CHPT. TD Cowen downgraded ChargePoint from a "buy" rating to a "hold" rating and dropped their target price for the company from $3.00 to $2.00 in a research report on Thursday, September 5th. Wolfe Research started coverage on shares of ChargePoint in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Evercore ISI dropped their price target on shares of ChargePoint from $6.00 to $4.00 and set an "outperform" rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. cut ChargePoint from an "overweight" rating to an "underweight" rating in a research note on Thursday, October 3rd. Finally, Benchmark restated a "buy" rating and set a $3.00 price target on shares of ChargePoint in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $2.61.
Read Our Latest Report on CHPT
The firm has a market capitalization of $574.00 million, a PE ratio of -1.30 and a beta of 1.70. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average price of $1.41 and a two-hundred day moving average price of $1.62.
ChargePoint (NYSE:CHPT - Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.15). The company had revenue of $108.54 million during the quarter, compared to analysts' expectations of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. Sell-side analysts forecast that ChargePoint Holdings, Inc. will post -0.56 earnings per share for the current year.
In related news, CFO Mansi Khetani sold 23,409 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the completion of the sale, the chief financial officer now directly owns 849,084 shares of the company's stock, valued at $1,146,263.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Richard Wilmer sold 27,252 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $36,790.20. Following the completion of the sale, the chief executive officer now directly owns 2,304,489 shares of the company's stock, valued at $3,111,060.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the transaction, the chief financial officer now directly owns 849,084 shares in the company, valued at $1,146,263.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,803 shares of company stock worth $135,295 in the last quarter. Company insiders own 3.50% of the company's stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Direct Indexing L.P. purchased a new stake in shares of ChargePoint during the 1st quarter worth approximately $92,000. Capstone Investment Advisors LLC acquired a new position in shares of ChargePoint during the 1st quarter worth $238,000. SG Americas Securities LLC grew its stake in ChargePoint by 51.6% in the 1st quarter. SG Americas Securities LLC now owns 109,240 shares of the company's stock valued at $208,000 after acquiring an additional 37,180 shares during the last quarter. Swiss National Bank grew its stake in ChargePoint by 23.2% in the 1st quarter. Swiss National Bank now owns 742,900 shares of the company's stock valued at $1,412,000 after acquiring an additional 139,700 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in ChargePoint during the first quarter worth about $258,000. Institutional investors and hedge funds own 37.77% of the company's stock.
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.
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