ChargePoint (NYSE:CHPT) Sets New 52-Week Low at $1.51

ChargePoint Holdings, Inc. (NYSE:CHPT)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $1.51 and last traded at $1.54, with a volume of 1922773 shares changing hands. The stock had previously closed at $1.58.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. DA Davidson reissued a “buy” rating and set a $4.00 price target on shares of ChargePoint in a research report on Wednesday, March 6th. The Goldman Sachs Group reiterated a “sell” rating and issued a $1.50 target price (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. R. F. Lafferty lowered their price target on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, Benchmark reissued a “buy” rating and issued a $4.25 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.14.

ChargePoint Stock Down 2.2 %

The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The stock’s fifty day moving average price is $1.91 and its 200-day moving average price is $2.34.

ChargePoint (NYSE:CHPT) last posted its quarterly 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. The firm had revenue of $115.83 million during the quarter, compared to analysts’ expectations of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. Equities research analysts anticipate that ChargePoint Holdings, Inc. will post -0.63 EPS for the current fiscal year.

Insider Transactions at ChargePoint

In other news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the transaction, the chief executive officer now directly owns 2,359,462 shares in the company, valued at $4,412,193.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other ChargePoint news, Director Michael Linse sold 100,000 shares of the business’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 transaction, the director now owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Wilmer sold 25,376 shares of the business’s stock in a transaction on 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 owns 2,359,462 shares of the company’s stock, valued at approximately $4,412,193.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,846 shares of company stock worth $296,562. 12.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balentine LLC acquired a new position in shares of ChargePoint in the 4th quarter valued at $26,000. Comerica Bank acquired a new stake in shares of ChargePoint in the third quarter valued at approximately $26,000. Pathstone Holdings LLC acquired a new position in ChargePoint in the fourth quarter valued at $30,000. RWA Wealth Partners LLC acquired a new position in ChargePoint in the 4th quarter valued at about $31,000. Finally, Ingalls & Snyder LLC purchased a new stake in shares of ChargePoint during the fourth quarter worth approximately $33,000. 37.77% of the stock is owned by institutional investors and hedge funds.

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.