ChargePoint (NYSE:CHPT) Stock Price Down 5.1% - What's Next?

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) traded down 5.1% during trading on Thursday . The stock traded as low as $1.30 and last traded at $1.30. 7,523,324 shares traded hands during trading, a decline of 45% from the average session volume of 13,695,059 shares. The stock had previously closed at $1.37.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wolfe Research assumed coverage on shares of ChargePoint in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. Capital One Financial upgraded shares of ChargePoint to a "strong-buy" rating in a research report on Tuesday, September 17th. Benchmark restated a "buy" rating and set a $3.00 price target on shares of ChargePoint in a research report on Thursday, September 5th. B. Riley upgraded shares of ChargePoint to a "hold" rating in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group cut their target price on shares of ChargePoint from $1.50 to $1.25 and set a "sell" rating for the company in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $3.39.

ChargePoint Stock Down 4.4 %

The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $1.59 and a 200-day moving average price of $1.67. The firm has a market capitalization of $565.37 million, a PE ratio of -1.11 and a beta of 1.69.

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

Insider Buying and Selling

In related news, CEO Richard Wilmer sold 27,252 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $36,790.20. Following the completion of the transaction, the chief executive officer now directly owns 2,304,489 shares in the company, valued at approximately $3,111,060.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Richard Wilmer sold 27,252 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the transaction, the chief executive officer now directly owns 2,304,489 shares in the company, valued at $3,111,060.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mansi Khetani sold 23,409 shares of the firm'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 transaction, the chief financial officer now owns 849,084 shares of the company's stock, valued at approximately $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. Over the last three months, insiders sold 74,515 shares of company stock worth $100,595. Company insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc raised its stake 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 acquiring an additional 5,770 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of ChargePoint by 41.4% in the second quarter. Hsbc Holdings PLC now owns 26,397 shares of the company's stock valued at $39,000 after acquiring an additional 7,723 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of ChargePoint by 6.1% in the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company's stock valued at $259,000 after acquiring an additional 7,838 shares in the last quarter. Capital Square LLC raised its stake in shares of ChargePoint by 47.4% in the first quarter. Capital Square LLC now owns 24,880 shares of the company's stock valued at $47,000 after acquiring an additional 8,000 shares in the last quarter. Finally, PFG Investments LLC raised its stake in shares of ChargePoint by 32.2% in the second quarter. PFG Investments LLC now owns 34,102 shares of the company's stock valued at $51,000 after acquiring an additional 8,297 shares in the last quarter. 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.