ChargePoint (NYSE:CHPT) Stock Price Up 8.2%

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) traded up 8.2% during mid-day trading on Friday . The company traded as high as $1.99 and last traded at $1.97. 7,201,579 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 13,948,957 shares. The stock had previously closed at $1.82.

Analysts Set New Price Targets

CHPT has been the topic of a number of analyst reports. TD Cowen reduced their price objective on ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Benchmark reduced their price target on ChargePoint from $4.25 to $3.00 and set a “buy” rating on the stock in a report on Friday, June 28th. B. Riley raised shares of ChargePoint to a “hold” rating in a report on Tuesday, June 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.88.

ChargePoint Stock Up 5.5 %

The business has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $1.79. The company has a market capitalization of $812.85 million, a price-to-earnings ratio of -1.63 and a beta of 1.71. 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 posted its earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. The firm had revenue of $107.04 million for the quarter, compared to analyst estimates of $106.09 million. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. As a group, equities analysts predict that ChargePoint Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Activity at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total transaction of $65,394.00. Following the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at approximately $657,006. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Henrik Gerdes sold 43,596 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the completion of the transaction, the chief accounting officer now directly 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 at the SEC website. Also, CEO Richard Wilmer sold 27,722 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 value of $38,810.80. Following the completion of the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at approximately $3,264,436. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,099 shares of company stock worth $137,498. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in ChargePoint during the 2nd quarter worth about $13,007,000. Creative Planning raised its position in shares of ChargePoint by 152.3% during the 2nd quarter. Creative Planning now owns 188,363 shares of the company’s stock worth $284,000 after acquiring an additional 113,699 shares in the last quarter. Algert Global LLC purchased a new stake in ChargePoint during the second quarter worth approximately $58,000. The Manufacturers Life Insurance Company acquired a new position in ChargePoint in the second quarter valued at approximately $231,000. Finally, AQR Capital Management LLC purchased a new position in ChargePoint in the second quarter valued at approximately $1,310,000. 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 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.