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

ChargePoint Holdings, Inc. (NYSE:CHPTGet Free Report) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 105,310,000 shares, a growth of 16.0% from the February 29th total of 90,750,000 shares. Approximately 28.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 15,020,000 shares, the short-interest ratio is presently 7.0 days.

ChargePoint Stock Down 4.1 %

NYSE CHPT traded down $0.07 on Tuesday, hitting $1.75. The stock had a trading volume of 10,902,339 shares, compared to its average volume of 14,941,937. ChargePoint has a 52-week low of $1.56 and a 52-week high of $10.60. The business’s fifty day moving average price is $1.95 and its 200 day moving average price is $2.56. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.34 and a quick ratio of 1.77. The stock has a market cap of $729.46 million, a price-to-earnings ratio of -1.41 and a beta of 1.62.

ChargePoint (NYSE:CHPTGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. ChargePoint had a negative return on equity of 124.81% and a negative net margin of 90.32%. The business had revenue of $115.83 million during the quarter, compared to the consensus estimate of $126.48 million. Equities research analysts anticipate that ChargePoint will post -0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective (down from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. R. F. Lafferty reduced their price target on ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th. The Goldman Sachs Group reduced their target price on ChargePoint from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. HSBC began coverage on shares of ChargePoint in a research note on Monday, December 4th. They set a “hold” rating and a $2.00 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $4.25 price target on shares of ChargePoint in a research note on Wednesday, March 6th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.17.

Check Out Our Latest Report on ChargePoint

Insiders Place Their Bets

In other news, CFO Mansi Khetani sold 19,035 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the transaction, the chief financial officer now owns 421,500 shares of the company’s stock, valued at $788,205. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ChargePoint news, CFO Mansi Khetani sold 19,035 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 value of $35,595.45. Following the sale, the chief financial officer now directly owns 421,500 shares in the company, valued at approximately $788,205. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were 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 approximately $4,412,193.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,846 shares of company stock worth $296,562. Corporate insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Almanack Investment Partners LLC. purchased a new stake in shares of ChargePoint during the third quarter valued at $43,000. First Manhattan Co. raised its stake in shares of ChargePoint by 65.4% in the first quarter. First Manhattan Co. now owns 3,085 shares of the company’s stock worth $61,000 after purchasing an additional 1,220 shares during the last quarter. American International Group Inc. lifted its holdings in shares of ChargePoint by 30.0% during the second quarter. American International Group Inc. now owns 3,101 shares of the company’s stock worth $42,000 after purchasing an additional 716 shares during the period. Hollencrest Capital Management boosted its position in ChargePoint by 162.2% in the first quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock valued at $36,000 after buying an additional 2,100 shares during the last quarter. Finally, Trium Capital LLP acquired a new position in ChargePoint in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

About ChargePoint

(Get Free Report)

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.

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