ChargePoint (NYSE:CHPT) Shares Down 5%

ChargePoint Holdings, Inc. (NYSE:CHPT) was down 5% on Wednesday . The company traded as low as $1.41 and last traded at $1.43. Approximately 12,055,045 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 14,410,322 shares. The stock had previously closed at $1.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CHPT shares. R. F. Lafferty dropped their price target on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research report on Thursday, April 4th. DA Davidson reiterated a “buy” rating and issued a $4.00 price target on shares of ChargePoint in a research report on Wednesday, March 6th. Benchmark restated a “buy” rating and set a $4.25 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Oppenheimer restated a “market perform” rating 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 given a buy rating to the stock. Based on data from MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and a consensus price target of $6.14.

ChargePoint Price Performance

The stock has a fifty day moving average of $1.87 and a two-hundred day moving average of $2.31. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share 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 the consensus estimate of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. On average, sell-side analysts anticipate that ChargePoint Holdings, Inc. will post -0.63 EPS for the current fiscal year.

Insider Activity at ChargePoint

In related news, Director Michael Linse sold 100,000 shares of the stock in a transaction on Thursday, March 7th. The stock was 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 directly owns 1,209,867 shares in the company, valued at $2,347,141.98. The transaction was disclosed in a document filed 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 dated 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Linse sold 100,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the sale, the director now owns 1,209,867 shares of the company’s stock, valued at $2,347,141.98. The disclosure for this sale can be found here. Insiders sold 154,846 shares of company stock worth $296,562 over the last three months. Company insiders own 12.90% of the company’s stock.

Institutional Trading of ChargePoint

Large investors have recently made changes to their positions in the company. Balentine LLC acquired a new stake in shares of ChargePoint in the 4th quarter valued at about $26,000. Comerica Bank acquired a new stake in shares of ChargePoint in the 3rd quarter valued at about $26,000. Pathstone Holdings LLC acquired a new stake in shares of ChargePoint in the 4th quarter valued at about $30,000. RWA Wealth Partners LLC acquired a new stake in shares of ChargePoint in the 4th quarter valued at about $31,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of ChargePoint in the 4th quarter valued at about $33,000. 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.