ChargePoint (NYSE:CHPT) Hits New 52-Week Low at $1.78

ChargePoint Holdings, Inc. (NYSE:CHPTGet Free Report)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.78 and last traded at $1.79, with a volume of 12988781 shares. The stock had previously closed at $1.90.

Analyst Ratings Changes

A number of research firms have weighed in on CHPT. Bank of America downgraded ChargePoint from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. B. Riley lowered shares of ChargePoint from a “buy” rating to a “neutral” rating and reduced their price target for the company from $5.00 to $2.50 in a research report on Thursday, December 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of ChargePoint in a report on Thursday, December 7th. JPMorgan Chase & Co. reduced their target price on ChargePoint from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Finally, R. F. Lafferty cut ChargePoint from a “buy” rating to a “hold” rating and dropped their price target for the company from $17.00 to $4.00 in a report on Friday, November 17th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, ChargePoint has an average rating of “Hold” and an average price target of $7.54.

Check Out Our Latest Stock Analysis on ChargePoint

ChargePoint Trading Down 4.4 %

The firm has a fifty day moving average of $2.29 and a 200-day moving average of $4.76. The company has a quick ratio of 1.77, a current ratio of 2.34 and a debt-to-equity ratio of 0.72.

ChargePoint (NYSE:CHPTGet Free Report) last released its earnings results on Wednesday, December 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.12). ChargePoint had a negative net margin of 81.10% and a negative return on equity of 119.40%. The business had revenue of $110.30 million for the quarter, compared to analyst estimates of $124.92 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, equities analysts predict that ChargePoint Holdings, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, insider Michael D. Hughes sold 13,995 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $2.42, for a total transaction of $33,867.90. Following the completion of the sale, the insider now owns 855,947 shares in the company, valued at approximately $2,071,391.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 38,375 shares of company stock valued at $92,868. 12.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ChargePoint

Several institutional investors have recently modified their holdings of the stock. Comerica Bank bought a new position in ChargePoint during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management boosted its position in shares of ChargePoint by 162.2% during the first quarter. Hollencrest Capital Management now owns 3,395 shares of the company’s stock worth $36,000 after purchasing an additional 2,100 shares in the last quarter. Trium Capital LLP bought a new position in shares of ChargePoint during the first quarter worth $37,000. Dark Forest Capital Management LP acquired a new position in shares of ChargePoint in the 1st quarter valued at $39,000. Finally, Smithfield Trust Co bought a new stake in shares of ChargePoint in the 2nd quarter valued at $40,000. 45.01% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Company Profile

(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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