ChargePoint (NYSE:CHPT) Reaches New 1-Year Low at $15.31

ChargePoint Holdings, Inc. (NYSE:CHPT)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $15.31 and last traded at $15.35, with a volume of 124425 shares. The stock had previously closed at $15.99.

CHPT has been the subject of a number of research reports. Piper Sandler cut their price objective on shares of ChargePoint from $23.00 to $20.00 in a research note on Friday, January 7th. The Goldman Sachs Group cut their price objective on shares of ChargePoint from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, January 10th. Stifel Nicolaus initiated coverage on shares of ChargePoint in a research report on Monday, October 18th. They set a “buy” rating and a $29.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of ChargePoint in a research report on Monday, November 15th. They set a “neutral” rating and a $26.00 price target for the company. Finally, Capital One Financial initiated coverage on shares of ChargePoint in a research report on Tuesday, November 23rd. They set an “equal weight” rating and a $24.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, ChargePoint has a consensus rating of “Hold” and a consensus price target of $30.63.

The business’s 50 day simple moving average is $21.53 and its two-hundred day simple moving average is $22.65.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Tuesday, December 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $65.03 million for the quarter, compared to analyst estimates of $63.26 million. ChargePoint’s revenue for the quarter was up 188.2% compared to the same quarter last year. Equities analysts forecast that ChargePoint Holdings, Inc. will post -0.81 EPS for the current year.

In related news, CMO Colleen Jansen sold 3,115 shares of the firm’s stock in a transaction that occurred on Tuesday, December 21st. The shares were sold at an average price of $18.06, for a total value of $56,256.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP William J. Loewenthal sold 7,350 shares of the firm’s stock in a transaction that occurred on Thursday, December 16th. The stock was sold at an average price of $19.84, for a total transaction of $145,824.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,009,688 shares of company stock worth $20,480,452. Insiders own 39.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management raised its position in shares of ChargePoint by 1,548.3% during the fourth quarter. Spire Wealth Management now owns 8,258 shares of the company’s stock valued at $157,000 after buying an additional 7,757 shares during the last quarter. Sycomore Asset Management bought a new stake in ChargePoint in the fourth quarter worth $91,000. Exchange Traded Concepts LLC bought a new stake in ChargePoint in the fourth quarter worth $86,000. Wedbush Securities Inc. increased its position in ChargePoint by 28.8% in the fourth quarter. Wedbush Securities Inc. now owns 15,260 shares of the company’s stock worth $291,000 after purchasing an additional 3,410 shares during the last quarter. Finally, IFP Advisors Inc increased its position in ChargePoint by 46.8% in the fourth quarter. IFP Advisors Inc now owns 13,304 shares of the company’s stock worth $261,000 after purchasing an additional 4,243 shares during the last quarter. Hedge funds and other institutional investors own 27.13% of the company’s stock.

About ChargePoint (NYSE:CHPT)

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

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