ChargePoint (CHPT) Projected to Post Quarterly Earnings on Tuesday

ChargePoint (NYSE:CHPT) is anticipated to announce its quarterly earnings data after the market closes on Tuesday, March 4th. Analysts expect the company to announce earnings of ($0.08) per share and revenue of $100.99 million for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

ChargePoint Stock Performance

CHPT opened at $0.67 on Monday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. The company has a market cap of $295.48 million, a PE ratio of -0.90 and a beta of 1.70. The stock has a 50-day moving average of $0.96 and a 200-day moving average of $1.22. ChargePoint has a 52-week low of $0.56 and a 52-week high of $2.44.

Insiders Place Their Bets

In other ChargePoint news, CAO Henrik Gerdes sold 28,536 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total transaction of $32,531.04. Following the completion of the transaction, the chief accounting officer now 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 Securities & Exchange Commission, which is available at this link. Also, CFO Mansi Khetani sold 22,038 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $25,123.32. Following the completion of the sale, the chief financial officer now owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,148 shares of company stock worth $99,349. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CHPT shares. Benchmark reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Thursday, December 5th. Royal Bank of Canada cut their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a research report on Thursday, December 5th. The Goldman Sachs Group lowered their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Finally, UBS Group cut their price objective on ChargePoint from $1.50 to $1.30 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and a consensus target price of $2.41.

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.