ChargePoint Holdings, Inc. (NYSE:CHPT – Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 79,522 call options on the company. This represents an increase of approximately 99% compared to the average volume of 39,861 call options.
ChargePoint Price Performance
CHPT opened at $1.36 on Tuesday. ChargePoint has a 1-year low of $1.21 and a 1-year high of $10.10. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average price of $1.84 and a two-hundred day moving average price of $2.23.
ChargePoint (NYSE:CHPT – Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. The firm had revenue of $115.83 million during the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. Analysts expect that ChargePoint will post -0.63 earnings per share for the current year.
Insiders Place Their Bets
Institutional Investors Weigh In On ChargePoint
Several hedge funds and other institutional investors have recently made changes to their positions in CHPT. Balentine LLC purchased a new position in ChargePoint during the fourth quarter worth about $26,000. RWA Wealth Partners LLC purchased a new position in ChargePoint during the fourth quarter worth about $31,000. Ingalls & Snyder LLC purchased a new position in ChargePoint during the fourth quarter worth about $33,000. Sigma Planning Corp purchased a new position in ChargePoint in the fourth quarter valued at about $33,000. Finally, TCG Advisory Services LLC purchased a new position in ChargePoint in the fourth quarter valued at about $33,000. 37.77% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on CHPT shares. The Goldman Sachs Group reaffirmed a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a research note on Thursday, April 4th. R. F. Lafferty dropped their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Benchmark reissued a “buy” rating and issued a $4.25 price objective on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.14.
View Our Latest Research Report on ChargePoint
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.
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