ChargePoint (NYSE:CHPT) Shares Gap Down to $1.38

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) gapped down before the market opened on Friday . The stock had previously closed at $1.38, but opened at $1.34. ChargePoint shares last traded at $1.39, with a volume of 966,516 shares trading hands.

Wall Street Analysts Forecast Growth

CHPT has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price objective (down from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Benchmark reaffirmed a “buy” rating and set a $4.25 target price on shares of ChargePoint in a research note on Wednesday, March 6th. R. F. Lafferty cut their target price 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 reaffirmed a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $1.50 target price (down from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.14.

ChargePoint Price Performance

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 business’s 50 day moving average is $1.87 and its 200 day moving average is $2.31.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. The firm had revenue of $115.83 million during the quarter, compared to analysts’ expectations of $126.48 million. As a group, research analysts expect that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insider Activity at ChargePoint

In related news, CFO Mansi Khetani sold 19,035 shares of ChargePoint stock in a transaction dated 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 sale, the chief financial officer now owns 421,500 shares in the company, valued at approximately $788,205. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Michael Linse sold 100,000 shares of the business’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 completion of the sale, 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 SEC, which is available at the SEC website. Also, CFO Mansi Khetani sold 19,035 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 421,500 shares of the company’s stock, valued at approximately $788,205. The disclosure for this sale can be found here. Insiders sold 154,846 shares of company stock worth $296,562 in the last 90 days. 12.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CHPT. Balentine LLC purchased a new stake in ChargePoint during the 4th quarter worth approximately $26,000. Comerica Bank purchased a new stake in shares of ChargePoint in the 3rd quarter valued at $26,000. Pathstone Holdings LLC purchased a new stake in shares of ChargePoint in the 4th quarter valued at $30,000. RWA Wealth Partners LLC purchased a new stake in shares of ChargePoint in the 4th quarter valued at $31,000. Finally, Ingalls & Snyder LLC purchased a new stake in shares of ChargePoint in the 4th quarter valued at $33,000. 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.