ChargePoint (NYSE:CHPT) Shares Gap Down to $1.90

ChargePoint Holdings, Inc. (NYSE:CHPT)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.90, but opened at $1.85. ChargePoint shares last traded at $1.90, with a volume of 1,662,655 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. R. F. Lafferty lowered their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. DA Davidson restated a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $2.50 to $2.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Finally, Citigroup decreased their price objective on shares of ChargePoint from $8.25 to $2.40 and set a “neutral” rating for the company in a report on Friday, December 8th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.17.

ChargePoint Trading Up 1.0 %

The firm’s 50 day moving average price is $1.95 and its 200-day moving average price is $2.69. The stock has a market cap of $802.40 million, a P/E ratio of -1.53 and a beta of 1.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.34 and a quick ratio of 1.77.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 124.81%. The firm had revenue of $115.83 million during the quarter, compared to analysts’ expectations of $126.48 million. As a group, equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, Director Michael Linse sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $1.94, for a total transaction of $194,000.00. Following the completion of the sale, the director now directly owns 1,209,867 shares of the company’s stock, valued at $2,347,141.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the transaction, the chief financial officer now owns 421,500 shares in the company, valued at $788,205. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Linse sold 100,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total transaction of $194,000.00. Following the transaction, the director now owns 1,209,867 shares of the company’s stock, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,846 shares of company stock valued at $296,562. Insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Several institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd bought a new position in ChargePoint during the fourth quarter valued at $1,257,000. Clarity Capital Partners LLC bought a new position in ChargePoint during the fourth quarter valued at $310,000. GSA Capital Partners LLP purchased a new stake in shares of ChargePoint in the fourth quarter valued at $99,000. Public Employees Retirement System of Ohio raised its stake in shares of ChargePoint by 5.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 128,517 shares of the company’s stock valued at $301,000 after acquiring an additional 6,831 shares during the period. Finally, Foresight Group Ltd Liability Partnership purchased a new stake in shares of ChargePoint in the fourth quarter valued at $82,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.