ChargePoint Holdings, Inc. (NYSE:CHPT) Short Interest Update

ChargePoint Holdings, Inc. (NYSE:CHPT) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 113,550,000 shares, a drop of 6.3% from the December 15th total of 121,170,000 shares. Based on an average trading volume of 15,980,000 shares, the short-interest ratio is presently 7.1 days. Currently, 28.5% of the company’s stock are sold short.

Insiders Place Their Bets

In related news, CAO Henrik Gerdes sold 28,536 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $32,531.04. Following the transaction, the chief accounting officer now directly owns 362,060 shares in the company, valued at $412,748.40. This trade represents a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the transaction, the chief financial officer now directly owns 1,230,305 shares of the company’s stock, valued at approximately $1,402,547.70. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,148 shares of company stock valued at $99,349 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

A number of institutional investors have recently added to or reduced their stakes in CHPT. Point72 Asset Management L.P. bought a new stake in shares of ChargePoint in the 2nd quarter worth $13,007,000. Erste Asset Management GmbH acquired a new position in ChargePoint during the third quarter worth about $2,570,000. AQR Capital Management LLC bought a new stake in ChargePoint in the second quarter worth about $1,310,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in ChargePoint by 62.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock valued at $2,452,000 after acquiring an additional 621,536 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ChargePoint by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock valued at $12,432,000 after purchasing an additional 399,070 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Stock Performance

Shares of NYSE:CHPT traded down $0.02 during trading on Friday, reaching $1.09. The company had a trading volume of 11,467,831 shares, compared to its average volume of 18,868,468. The firm’s fifty day moving average is $1.16 and its 200 day moving average is $1.45. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. ChargePoint has a twelve month low of $1.02 and a twelve month high of $2.44.

Analyst Ratings Changes

CHPT has been the subject of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. Royal Bank of Canada reduced their price objective on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. lowered ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Stifel Nicolaus reduced their price target on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ChargePoint presently has a consensus rating of “Hold” and an average price target of $2.46.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.