ChargePoint (NYSE:CHPT) Hits New 1-Year Low at $1.51

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) hit a new 52-week low during trading on Tuesday . The company traded as low as $1.51 and last traded at $1.54, with a volume of 1922773 shares trading hands. The stock had previously closed at $1.58.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHPT. The Goldman Sachs Group reiterated a “sell” rating and set a $1.50 price objective (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Thursday, April 4th. Benchmark reiterated a “buy” rating and set a $4.25 price target on shares of ChargePoint in a report on Wednesday, March 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 target price (down previously from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. Finally, R. F. Lafferty reduced their price objective on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.14.

ChargePoint Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65. The business has a 50-day moving average price of $1.91 and a 200 day moving average price of $2.34.

ChargePoint (NYSE:CHPT) last issued its earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. The business had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. As a group, analysts forecast that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Richard Wilmer sold 25,376 shares of ChargePoint stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the transaction, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at approximately $4,412,193.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Richard Wilmer sold 25,376 shares of ChargePoint stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following the transaction, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Linse sold 100,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $1.94, for a total value of $194,000.00. Following the sale, the director now directly owns 1,209,867 shares in the company, valued at $2,347,141.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,846 shares of company stock valued at $296,562. Insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bouvel Investment Partners LLC raised its position in shares of ChargePoint by 138.8% during the 1st quarter. Bouvel Investment Partners LLC now owns 303,264 shares of the company’s stock valued at $576,000 after buying an additional 176,246 shares in the last quarter. Quadrature Capital Ltd purchased a new position in ChargePoint during the fourth quarter worth $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 bought a new stake in shares of ChargePoint during the 4th quarter worth approximately $99,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of ChargePoint by 5.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 128,517 shares of the company’s stock valued at $301,000 after purchasing an additional 6,831 shares during the period. Institutional investors own 37.77% of the company’s stock.

About ChargePoint

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.