ChargePoint (NYSE:CHPT) Shares Gap Up - What's Next?

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $1.20, but opened at $1.25. ChargePoint shares last traded at $1.24, with a volume of 1,181,371 shares.

Wall Street Analyst Weigh In

CHPT has been the topic of several recent research reports. Needham & Company LLC reduced their price target on ChargePoint from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Thursday, September 5th. Evercore ISI reduced their price objective on ChargePoint from $6.00 to $4.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut shares of ChargePoint from an "overweight" rating to an "underweight" rating in a research note on Thursday, October 3rd. Capital One Financial upgraded ChargePoint to a "strong-buy" rating in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada cut their target price on shares of ChargePoint from $3.00 to $2.50 and set a "sector perform" rating for the company in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ChargePoint currently has a consensus rating of "Hold" and a consensus price target of $2.61.

ChargePoint Trading Up 2.5 %

The firm's fifty day moving average price is $1.43 and its two-hundred day moving average price is $1.62. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32. The stock has a market cap of $530.84 million, a P/E ratio of -1.26 and a beta of 1.69.

ChargePoint (NYSE:CHPT - Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). The business had revenue of $108.54 million for the quarter, compared to analysts' expectations of $114.15 million. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. As a group, equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the sale, the chief accounting officer now owns 390,596 shares in the company, valued at $515,586.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Richard Wilmer sold 27,252 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $36,790.20. Following the sale, the chief executive officer now directly owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Henrik Gerdes sold 26,288 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the transaction, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,803 shares of company stock worth $135,295. Company insiders own 3.50% of the company's stock.

Institutional Trading of ChargePoint

A number of institutional investors and hedge funds have recently made changes to their positions in CHPT. Financial Advocates Investment Management purchased a new stake in shares of ChargePoint in the 3rd quarter valued at approximately $29,000. Ballentine Partners LLC purchased a new stake in shares of ChargePoint during the 3rd quarter worth approximately $61,000. International Assets Investment Management LLC boosted its position in shares of ChargePoint by 32.9% in the 3rd quarter. International Assets Investment Management LLC now owns 60,403 shares of the company's stock valued at $830,000 after purchasing an additional 14,963 shares during the period. Krane Funds Advisors LLC purchased a new position in shares of ChargePoint during the third quarter worth about $324,000. Finally, Creative Planning increased its stake in shares of ChargePoint by 8.8% during the third quarter. Creative Planning now owns 205,008 shares of the company's stock worth $281,000 after acquiring an additional 16,645 shares during the period. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

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.