ChargePoint (NYSE:CHPT) Trading Down 4.4%

ChargePoint Holdings, Inc. (NYSE:CHPT)’s stock price was down 4.4% during mid-day trading on Monday . The company traded as low as $1.31 and last traded at $1.31. Approximately 1,792,208 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 13,894,660 shares. The stock had previously closed at $1.37.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CHPT shares. Wolfe Research initiated coverage on ChargePoint in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Evercore ISI decreased their target price on ChargePoint from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Benchmark reaffirmed a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a report on Thursday, September 5th. Royal Bank of Canada decreased their price objective on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Thursday, September 5th. Finally, B. Riley upgraded shares of ChargePoint to a “hold” rating in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and a consensus price target of $3.39.

ChargePoint Stock Down 4.0 %

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.45 and a current ratio of 2.03. The company has a market cap of $625.79 million, a P/E ratio of -1.29 and a beta of 1.70. The firm’s 50-day simple moving average is $1.81 and its 200 day simple moving average is $1.73.

Insider Activity at ChargePoint

In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the firm’s 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 owns 438,004 shares in the company, valued at $657,006. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Mansi Khetani sold 19,007 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the transaction, the chief financial officer now directly owns 402,493 shares in the company, valued at approximately $563,490.20. The sale 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 firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 438,004 shares in the company, valued at $657,006. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,099 shares of company stock worth $137,498. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ChargePoint

Several large investors have recently made changes to their positions in CHPT. Balentine LLC acquired a new position in ChargePoint in the 4th quarter worth $26,000. CIBC Asset Management Inc grew its holdings in shares of ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after buying an additional 5,770 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in ChargePoint in the 1st quarter valued at approximately $30,000. PDS Planning Inc acquired a new stake in ChargePoint in the 1st quarter valued at approximately $31,000. Finally, Delap Wealth Advisory LLC bought a new stake in ChargePoint in the 2nd quarter valued at approximately $31,000. 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 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.