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

ChargePoint Holdings, Inc. (NYSE:CHPT) hit a new 52-week low during trading 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

Several brokerages recently commented on CHPT. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price target (down previously from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Thursday, April 4th. R. F. Lafferty decreased their target price on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. DA Davidson reaffirmed a “buy” rating and set a $4.00 target price on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and an average target price of $6.14.

ChargePoint Trading Down 6.7 %

The business has a fifty day moving average price of $1.89 and a 200 day moving average price of $2.31. 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 company has a market capitalization of $585.24 million, a price-to-earnings ratio of -1.13 and a beta of 1.62.

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

Insider Activity at ChargePoint

In related news, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ChargePoint news, CFO Mansi Khetani sold 19,035 shares of the stock in a transaction on Thursday, March 21st. The stock was 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 directly owns 421,500 shares in the company, valued at $788,205. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Wilmer sold 25,376 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $47,453.12. Following the transaction, the chief executive officer now owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,846 shares of company stock worth $296,562. 12.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in ChargePoint by 12.9% during the third quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after acquiring an additional 3,325,694 shares in the last quarter. BlackRock Inc. grew its holdings in shares of ChargePoint by 14.6% during the second quarter. BlackRock Inc. now owns 15,217,487 shares of the company’s stock worth $133,762,000 after purchasing an additional 1,939,710 shares during the last quarter. State Street Corp grew its holdings in shares of ChargePoint by 5.7% during the second quarter. State Street Corp now owns 4,286,364 shares of the company’s stock worth $37,677,000 after purchasing an additional 229,805 shares during the last quarter. Norges Bank bought a new stake in shares of ChargePoint during the fourth quarter worth $9,733,000. Finally, Geode Capital Management LLC grew its holdings in shares of ChargePoint by 8.3% during the second quarter. Geode Capital Management LLC now owns 3,942,418 shares of the company’s stock worth $34,654,000 after purchasing an additional 301,687 shares during the last quarter. 37.77% of the stock is currently 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.