ChargePoint Holdings, Inc. (NYSE:CHPT) Short Interest Down 8.4% in November

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 118,780,000 shares, a decline of 8.4% from the November 15th total of 129,640,000 shares. Approximately 29.8% of the shares of the stock are sold short. Based on an average trading volume of 13,050,000 shares, the days-to-cover ratio is currently 9.1 days.

Insider Buying and Selling

In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $1.32, for a total transaction of $34,700.16. Following the sale, the chief accounting officer now owns 390,596 shares of the company's stock, valued at approximately $515,586.72. This trade represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mansi Khetani sold 23,409 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the completion of the sale, the chief financial officer now owns 849,084 shares of the company's stock, valued at approximately $1,146,263.40. This represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,803 shares of company stock worth $135,295. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CHPT. CIBC Asset Management Inc increased its stake in ChargePoint by 50.7% during the 2nd quarter. CIBC Asset Management Inc now owns 17,145 shares of the company's stock valued at $26,000 after purchasing an additional 5,770 shares in the last quarter. Delap Wealth Advisory LLC purchased a new position in shares of ChargePoint in the second quarter worth about $31,000. Financial Advocates Investment Management bought a new stake in ChargePoint during the 3rd quarter valued at $29,000. Perennial Investment Advisors LLC lifted its holdings in ChargePoint by 74.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company's stock worth $37,000 after purchasing an additional 10,400 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of ChargePoint by 152.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company's stock valued at $38,000 after acquiring an additional 15,358 shares during the period. 37.77% of the stock is owned by institutional investors.

ChargePoint Stock Down 1.7 %

Shares of NYSE CHPT traded down $0.02 during mid-day trading on Monday, hitting $1.13. The company had a trading volume of 14,730,800 shares, compared to its average volume of 13,746,378. The company has a market capitalization of $499.84 million, a PE ratio of -1.55 and a beta of 1.69. The company has a current ratio of 1.94, a quick ratio of 1.32 and a debt-to-equity ratio of 1.65. The firm has a 50-day simple moving average of $1.25 and a two-hundred day simple moving average of $1.54. ChargePoint has a one year low of $1.05 and a one year high of $2.79.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of ChargePoint from an "overweight" rating to an "underweight" rating in a research note on Thursday, October 3rd. Benchmark reaffirmed a "buy" rating and set a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research report on Thursday, December 5th. Capital One Financial raised ChargePoint to a "strong-buy" rating in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus reduced their price target on ChargePoint from $3.00 to $2.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ChargePoint presently has a consensus rating of "Hold" and an average price target of $2.46.

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.