ChargePoint Holdings, Inc. (NYSE:CHPT) Short Interest Update

ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) was the target of a large increase in short interest in the month of December. As of December 30th, there was short interest totalling 51,560,000 shares, an increase of 5.5% from the December 15th total of 48,850,000 shares. Based on an average trading volume of 8,940,000 shares, the short-interest ratio is presently 5.8 days. Approximately 21.5% of the shares of the stock are short sold.

ChargePoint Trading Down 3.8 %

Shares of NYSE CHPT opened at $11.42 on Wednesday. The firm’s 50-day moving average price is $10.73 and its two-hundred day moving average price is $13.29. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.69 and a quick ratio of 2.43. ChargePoint has a 52-week low of $8.07 and a 52-week high of $20.99.

ChargePoint (NYSE:CHPTGet Rating) last released its quarterly earnings results on Thursday, December 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). ChargePoint had a negative net margin of 82.57% and a negative return on equity of 74.82%. The business had revenue of $125.34 million for the quarter, compared to the consensus estimate of $131.35 million. On average, research analysts predict that ChargePoint will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on CHPT. B. Riley cut their target price on ChargePoint from $20.00 to $18.00 in a research report on Monday, November 7th. Piper Sandler cut their target price on ChargePoint from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, December 22nd. Cowen cut their target price on ChargePoint to $20.00 in a research report on Monday, November 28th. Citigroup cut their target price on ChargePoint from $15.50 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 29th. Finally, Oppenheimer cut their target price on ChargePoint from $40.00 to $26.00 in a research report on Friday, December 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.64.

Insider Buying and Selling

In other ChargePoint news, insider William J. Loewenthal sold 3,115 shares of the stock in a transaction on Monday, December 12th. The stock was sold at an average price of $10.94, for a total transaction of $34,078.10. Following the sale, the insider now owns 435,943 shares in the company, valued at approximately $4,769,216.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Q-Grg Vii (Cp) Investment Part bought 1,422,121 shares of the stock in a transaction on Tuesday, December 27th. The shares were purchased at an average price of $8.29 per share, for a total transaction of $11,789,383.09. Following the acquisition, the insider now owns 24,742,872 shares in the company, valued at $205,118,408.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William J. Loewenthal sold 3,115 shares of the stock in a transaction on Monday, December 12th. The shares were sold at an average price of $10.94, for a total value of $34,078.10. Following the sale, the insider now owns 435,943 shares in the company, valued at approximately $4,769,216.42. The disclosure for this sale can be found here. Insiders have sold a total of 736,621 shares of company stock worth $7,362,337 in the last quarter. Company insiders own 23.64% of the company’s stock.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of ChargePoint by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,469,637 shares of the company’s stock valued at $331,652,000 after buying an additional 1,396,280 shares in the last quarter. BlackRock Inc. increased its position in ChargePoint by 28.8% during the 3rd quarter. BlackRock Inc. now owns 10,484,565 shares of the company’s stock worth $154,754,000 after purchasing an additional 2,345,089 shares in the last quarter. Baillie Gifford & Co. increased its position in ChargePoint by 25.6% during the 3rd quarter. Baillie Gifford & Co. now owns 5,755,451 shares of the company’s stock worth $84,951,000 after purchasing an additional 1,173,533 shares in the last quarter. State Street Corp increased its position in ChargePoint by 11.1% during the 3rd quarter. State Street Corp now owns 3,685,973 shares of the company’s stock worth $54,405,000 after purchasing an additional 367,896 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in ChargePoint by 43.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,277,272 shares of the company’s stock valued at $33,675,000 after acquiring an additional 688,376 shares during the period. Institutional investors own 44.87% of the company’s stock.

About ChargePoint

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ChargePoint Holdings, Inc 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. The company was founded in 2007 and is headquartered in Campbell, California.

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