Investors Purchase High Volume of ChargePoint Call Options (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) saw unusually large options trading on Tuesday. Investors acquired 69,757 call options on the stock. This is an increase of approximately 97% compared to the average volume of 35,425 call options.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 23,409 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 849,084 shares in the company, valued at approximately $1,146,263.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Henrik Gerdes sold 26,288 shares of the business's stock in a transaction on Friday, October 11th. The stock was 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 of the company's stock, valued at $515,586.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the transaction, the chief financial officer now owns 849,084 shares of the company's stock, valued at $1,146,263.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,803 shares of company stock valued at $135,295. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc grew its position in shares of ChargePoint by 50.7% in the second 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 during the last quarter. Financial Advocates Investment Management acquired a new position in shares of ChargePoint in the third quarter valued at about $29,000. CreativeOne Wealth LLC acquired a new stake in ChargePoint in the 1st quarter worth about $30,000. Delap Wealth Advisory LLC acquired a new position in shares of ChargePoint during the 2nd quarter worth approximately $31,000. Finally, Perennial Investment Advisors LLC boosted its stake in shares of 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 buying an additional 10,400 shares during the period. Institutional investors own 37.77% of the company's stock.

ChargePoint Stock Up 4.5 %

Shares of ChargePoint stock traded up $0.06 during trading hours on Tuesday, reaching $1.39. 17,385,438 shares of the company's stock were exchanged, compared to its average volume of 13,403,461. The company has a 50 day moving average of $1.40 and a two-hundred day moving average of $1.62. ChargePoint has a fifty-two week low of $1.20 and a fifty-two week high of $3.54. 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 $599.90 million, a P/E ratio of -1.40 and a beta of 1.70.

ChargePoint (NYSE:CHPT - Get Free Report) last released its 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 during 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%. On average, sell-side analysts forecast that ChargePoint will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CHPT shares. Royal Bank of Canada reduced their price target on shares of ChargePoint from $3.00 to $2.50 and set a "sector perform" rating on the stock in a research report on Thursday, September 5th. Wolfe Research initiated coverage on shares of ChargePoint in a research report on Thursday, September 5th. They issued a "peer perform" rating for the company. Benchmark reiterated a "buy" rating and issued a $3.00 price objective on shares of ChargePoint in a research report on Thursday, September 5th. TD Cowen lowered ChargePoint from a "buy" rating to a "hold" rating and cut their price target for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. Finally, UBS Group dropped their price objective on ChargePoint from $1.80 to $1.50 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $2.61.

About ChargePoint

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.