ChargePoint Target of Unusually High Options Trading (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the target of unusually large options trading activity on Thursday. Investors acquired 91,436 call options on the company. This represents an increase of approximately 181% compared to the typical daily volume of 32,509 call options.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CHPT. The Goldman Sachs Group reiterated a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. TD Cowen cut their price target on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Benchmark reissued a “buy” rating and set a $4.25 price target on shares of ChargePoint in a research report on Wednesday, March 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective (down from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.96.

ChargePoint Stock Performance

Shares of CHPT stock opened at $1.50 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.13 and a quick ratio of 1.45. The stock’s 50 day simple moving average is $1.63 and its two-hundred day simple moving average is $1.90. The company has a market cap of $632.92 million, a PE ratio of -1.27 and a beta of 1.74. ChargePoint has a 1 year low of $1.21 and a 1 year high of $9.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Balentine LLC purchased a new position in ChargePoint in the fourth quarter worth $26,000. QRG Capital Management Inc. acquired a new position in ChargePoint during the 3rd quarter valued at about $58,000. Hollencrest Capital Management purchased a new stake in ChargePoint in the third quarter valued at about $60,000. RWA Wealth Partners LLC acquired a new stake in ChargePoint in the fourth quarter worth about $31,000. Finally, Sigma Planning Corp purchased a new stake in shares of ChargePoint during the fourth quarter worth about $33,000. 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.