Investors Buy Large Volume of Call Options on ChargePoint (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPTGet Free Report) saw unusually large options trading activity on Thursday. Traders acquired 2,553 call options on the company. This is an increase of approximately 180% compared to the average volume of 911 call options.

Insider Activity at ChargePoint

In other news, insider John David Vice sold 4,072 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $7.13, for a total transaction of $29,033.36. Following the completion of the sale, the insider directly owned 171,507 shares in the company, valued at $1,222,844.91. This represents a 2.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Eric Batill sold 4,979 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $7.13, for a total value of $35,500.27. Following the completion of the transaction, the general counsel directly owned 143,631 shares in the company, valued at $1,024,089.03. This trade represents a 3.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 29,164 shares of company stock worth $208,037 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd lifted its holdings in ChargePoint by 56.4% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after acquiring an additional 3,100 shares during the last quarter. Rothschild Investment LLC grew its holdings in shares of ChargePoint by 233.3% during the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after purchasing an additional 3,500 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of ChargePoint by 40.0% during the first quarter. Hsbc Holdings PLC now owns 15,220 shares of the company’s stock valued at $75,000 after purchasing an additional 4,352 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of ChargePoint by 26.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after purchasing an additional 9,208 shares during the period. Finally, EFG International AG acquired a new stake in shares of ChargePoint during the 4th quarter worth approximately $72,000. 37.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CHPT shares. Royal Bank Of Canada restated a “sector perform” rating and set a $6.50 price target on shares of ChargePoint in a research note on Thursday, June 4th. Oppenheimer reaffirmed a “market perform” rating on shares of ChargePoint in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a research report on Friday, July 17th. Finally, UBS Group restated a “neutral” rating and issued a $8.00 price target (up from $7.00) on shares of ChargePoint in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $8.31.

View Our Latest Research Report on ChargePoint

ChargePoint Stock Up 52.3%

CHPT stock traded up $2.72 during midday trading on Thursday, hitting $7.91. 8,911,605 shares of the company’s stock were exchanged, compared to its average volume of 587,262. The company has a current ratio of 1.15, a quick ratio of 0.56 and a debt-to-equity ratio of 10.73. ChargePoint has a 12-month low of $4.44 and a 12-month high of $12.61. The firm has a 50 day moving average price of $5.79 and a 200-day moving average price of $6.12. The stock has a market capitalization of $193.06 million, a price-to-earnings ratio of -0.90 and a beta of 1.77.

ChargePoint (NYSE:CHPTGet Free Report) last issued its earnings results on Wednesday, June 3rd. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.64). ChargePoint had a negative net margin of 49.66% and a negative return on equity of 504.42%. The company had revenue of $101.82 million during the quarter, compared to analyst estimates of $95.64 million. On average, analysts anticipate that ChargePoint will post -5.48 EPS for the current year.

Trending Headlines about ChargePoint

Here are the key news stories impacting ChargePoint this week:

  • Positive Sentiment: Revenue beat expectations: ChargePoint reported quarterly revenue of approximately $116.1 million, up 17.7% year over year and above analyst estimates of roughly $105.2 million. ChargePoint Delivers Impressive Q2
  • Positive Sentiment: Loss was narrower than expected: Reported loss was $1.35 per share versus the consensus estimate of a $1.57 loss. Another report citing adjusted results showed a $0.35 loss compared with expectations for a $0.80 loss, and the prior-year loss was $1.42 per share. ChargePoint Q2 Earnings
  • Positive Sentiment: Margins and outlook improved: Coverage highlighted record gross margins and management’s ability to surpass prior guidance. Third-quarter revenue guidance of $105 million to $115 million, with a midpoint of $110 million, was slightly above the approximately $109.2 million analyst consensus. ChargePoint Q2 Guidance and Margins
  • Neutral Sentiment: Analyst stance remains unchanged: Needham & Company reaffirmed its “Hold” rating, suggesting the earnings beat has not yet changed the firm’s longer-term view of the stock.
  • Negative Sentiment: Profitability remains a major risk: ChargePoint continues to report substantial losses, with negative net margins and return on equity. The company’s balance-sheet liquidity and high debt-to-equity ratio also leave limited room for execution missteps.

ChargePoint Company Profile

(Get Free Report)

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.

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