ChargePoint (NYSE:CHPT) Shares Up 6.8% - Time to Buy?

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report)'s share price traded up 6.8% on Monday . The company traded as high as $1.33 and last traded at $1.32. 10,752,500 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 13,346,048 shares. The stock had previously closed at $1.24.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CHPT shares. Royal Bank of Canada reduced their price objective on shares of ChargePoint from $3.00 to $2.50 and set a "sector perform" rating for the company in a report on Thursday, September 5th. Stifel Nicolaus dropped their target price on shares of ChargePoint from $3.00 to $2.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Evercore ISI lowered their price objective on shares of ChargePoint from $6.00 to $4.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. Capital One Financial upgraded shares of ChargePoint to a "strong-buy" rating in a research report on Tuesday, September 17th. Finally, Benchmark restated a "buy" rating and issued a $3.00 price objective on shares of ChargePoint in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ChargePoint presently has an average rating of "Hold" and a consensus target price of $2.61.

ChargePoint Stock Up 7.3 %

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 capitalization of $574.00 million, a PE ratio of -1.34 and a beta of 1.70. The stock's fifty day simple moving average is $1.40 and its 200-day simple moving average is $1.62.

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

Insider Buying and Selling

In related news, CAO Henrik Gerdes sold 26,288 shares of the business's stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Mansi Khetani sold 23,409 shares of the company's 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 sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Henrik Gerdes sold 26,288 shares of the 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 completion of the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at approximately $515,586.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,803 shares of company stock worth $135,295 in the last quarter. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ChargePoint

A number of institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc boosted its position in shares of ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company's stock valued at $26,000 after buying an additional 5,770 shares during the last quarter. Financial Advocates Investment Management purchased a new stake in shares of ChargePoint during the third quarter valued at $29,000. CreativeOne Wealth LLC purchased a new stake in shares of ChargePoint during the first quarter valued at $30,000. Delap Wealth Advisory LLC purchased a new stake in shares of ChargePoint during the second quarter valued at $31,000. Finally, Perennial Investment Advisors LLC boosted its position in shares of ChargePoint by 74.4% during 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 last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

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.