Charge Enterprises, Inc. (NASDAQ:CRGE) Sees Significant Drop in Short Interest

Charge Enterprises, Inc. (NASDAQ:CRGE) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 3,680,000 shares, a decrease of 5.6% from the October 15th total of 3,900,000 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average daily volume of 510,700 shares, the days-to-cover ratio is presently 7.2 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $4.50 price target on shares of Charge Enterprises in a research note on Tuesday, August 15th.

Insider Buying and Selling at Charge Enterprises

In other Charge Enterprises news, Director Justin Deutsch acquired 105,400 shares of the company’s stock in a transaction on Friday, September 8th. The shares were acquired at an average cost of $0.46 per share, with a total value of $48,484.00. Following the completion of the acquisition, the director now directly owns 1,080,168 shares in the company, valued at $496,877.28. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired a total of 163,400 shares of company stock valued at $78,744 over the last three months. 25.22% of the stock is currently owned by insiders.

Institutional Trading of Charge Enterprises

A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in Charge Enterprises by 11.0% in the third quarter. California State Teachers Retirement System now owns 51,348 shares of the company’s stock worth $90,000 after buying an additional 5,105 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Charge Enterprises by 85.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 19,175 shares of the company’s stock worth $34,000 after buying an additional 8,856 shares during the last quarter. Virtu Financial LLC purchased a new stake in Charge Enterprises in the second quarter worth $52,000. Legal & General Group Plc purchased a new stake in Charge Enterprises in the second quarter worth $56,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Charge Enterprises by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 813,740 shares of the company’s stock valued at $1,009,000 after purchasing an additional 14,492 shares in the last quarter. 21.21% of the stock is currently owned by institutional investors.

Charge Enterprises Stock Down 6.9 %

CRGE stock traded down $0.02 during midday trading on Friday, hitting $0.29. The company’s stock had a trading volume of 739,089 shares, compared to its average volume of 437,256. Charge Enterprises has a 12 month low of $0.27 and a 12 month high of $2.50. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $0.43 and a two-hundred day moving average of $0.74.

Charge Enterprises (NASDAQ:CRGE) last posted its earnings results on Wednesday, November 8th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $132.28 million during the quarter, compared to the consensus estimate of $147.95 million. Charge Enterprises had a negative return on equity of 136.79% and a negative net margin of 5.76%. Equities research analysts predict that Charge Enterprises will post -0.18 EPS for the current year.

About Charge Enterprises

Charge Enterprises Inc operates as an electrical, broadband, and electric vehicle (EV) charging infrastructure company. The company provides clients with end-to-end project management services, including advising, designing, engineering, acquiring and installing equipment, monitoring, servicing, and maintenance.