ChargePoint Holdings, Inc. (NYSE:CHPT) Short Interest Update

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 113,550,000 shares, a decrease of 6.3% from the December 31st total of 121,170,000 shares. Currently, 28.5% of the company's shares are sold short. Based on an average daily volume of 15,980,000 shares, the days-to-cover ratio is presently 7.1 days.

Wall Street Analyst Weigh In

CHPT has been the topic of a number of research analyst reports. Benchmark reiterated a "buy" rating and set a $3.00 price objective on shares of ChargePoint in a research note on Wednesday, November 20th. Royal Bank of Canada decreased their price target on ChargePoint from $2.50 to $2.00 and set a "sector perform" rating for the company in a research note on Thursday, December 5th. Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a research note on Thursday, December 5th. UBS Group lowered their price target on ChargePoint from $1.50 to $1.30 and set a "neutral" rating for the company in a report on Tuesday, December 10th. Finally, Stifel Nicolaus reduced their price objective on ChargePoint from $3.00 to $2.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ChargePoint has a consensus rating of "Hold" and an average price target of $2.46.

Insider Activity at ChargePoint

In related news, CAO Henrik Gerdes sold 28,536 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $32,531.04. Following the transaction, the chief accounting officer now owns 362,060 shares in the company, valued at approximately $412,748.40. This trade represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mansi Khetani sold 22,038 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $25,123.32. Following the transaction, the chief financial officer now owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,148 shares of company stock worth $99,349. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ChargePoint

Several institutional investors have recently made changes to their positions in CHPT. Geode Capital Management LLC grew its stake in ChargePoint by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company's stock valued at $12,432,000 after buying an additional 399,070 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of ChargePoint in the second quarter worth about $138,000. AQR Capital Management LLC acquired a new position in shares of ChargePoint during the 2nd quarter worth about $1,310,000. Creative Planning boosted its stake in ChargePoint by 8.8% during the 3rd quarter. Creative Planning now owns 205,008 shares of the company's stock valued at $281,000 after purchasing an additional 16,645 shares during the period. Finally, Erste Asset Management GmbH bought a new position in ChargePoint in the 3rd quarter worth approximately $2,570,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Stock Down 0.1 %

Shares of ChargePoint stock traded down $0.00 on Wednesday, hitting $0.92. 28,209,821 shares of the company traded hands, compared to its average volume of 22,206,672. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. ChargePoint has a 12-month low of $0.91 and a 12-month high of $2.44. The company has a 50-day moving average price of $1.12 and a 200 day moving average price of $1.37. The company has a market cap of $406.95 million, a PE ratio of -1.24 and a beta of 1.70.

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.