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

ChargePoint Holdings, Inc. (NYSE:CHPT) saw unusually large options trading activity on Thursday. Stock traders purchased 50,604 call options on the company. This is an increase of approximately 87% compared to the average volume of 27,094 call options.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $1.35 on Friday. ChargePoint has a 12 month low of $1.05 and a 12 month high of $3.13. 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 stock has a market cap of $582.63 million, a P/E ratio of -1.82 and a beta of 1.69. The company has a 50 day moving average of $1.26 and a 200 day moving average of $1.56.

ChargePoint (NYSE:CHPT) last posted its earnings results on Wednesday, September 4th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The business 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%. As a group, sell-side analysts forecast that ChargePoint will post -0.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on CHPT shares. The Goldman Sachs Group dropped their price target on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research report on Friday, September 6th. Evercore ISI reduced their target price on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th. Finally, Wolfe Research began coverage on shares of ChargePoint in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ChargePoint has an average rating of “Hold” and an average target price of $2.47.

Insider Transactions at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 23,409 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were 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 owns 849,084 shares in the company, valued at approximately $1,146,263.40. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard Wilmer sold 27,252 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the sale, the chief executive officer now owns 2,304,489 shares in the company, valued at $3,111,060.15. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,803 shares of company stock valued at $135,295 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CHPT. CIBC Asset Management Inc lifted its holdings in ChargePoint by 50.7% in the 2nd 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 during the period. Financial Advocates Investment Management bought a new position in shares of ChargePoint during the third quarter valued at approximately $29,000. Delap Wealth Advisory LLC purchased a new stake in ChargePoint in the second quarter worth $31,000. Perennial Investment Advisors LLC boosted its holdings in ChargePoint by 74.4% in the second quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company’s stock valued at $37,000 after acquiring an additional 10,400 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in ChargePoint by 152.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company’s stock valued at $38,000 after purchasing an additional 15,358 shares during the period. Hedge funds and other 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.