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

ChargePoint Holdings, Inc. (NYSE:CHPT) was the recipient of unusually large options trading on Tuesday. Traders purchased 4,998 call options on the stock. This is an increase of approximately 130% compared to the typical daily volume of 2,173 call options.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CHPT shares. Royal Bank Of Canada lowered their target price on ChargePoint from $9.00 to $6.50 and set a “sector perform” rating for the company in a research note on Thursday, March 5th. UBS Group cut their price target on ChargePoint from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. B. Riley Financial lowered their price objective on ChargePoint from $11.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of ChargePoint in a report on Wednesday, January 21st. Finally, Roth Mkm set a $8.50 target price on shares of ChargePoint and gave the company a “neutral” rating in a research report on Friday, December 5th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $8.63.

ChargePoint Trading Down 1.5%

NYSE CHPT opened at $4.79 on Thursday. ChargePoint has a one year low of $4.44 and a one year high of $17.78. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93. The firm has a market cap of $113.17 million, a P/E ratio of -0.51 and a beta of 1.48. The stock’s 50-day moving average is $5.84 and its 200-day moving average is $8.01.

Institutional Trading of ChargePoint

A number of institutional investors have recently bought and sold shares of CHPT. Pilgrim Partners Asia Pte Ltd increased its holdings in shares of ChargePoint by 56.4% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company’s stock worth $57,000 after purchasing an additional 3,100 shares during the period. Rothschild Investment LLC boosted its stake in shares of ChargePoint by 233.3% in the fourth quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock valued at $33,000 after buying an additional 3,500 shares during the period. BNP Paribas Financial Markets grew its position in ChargePoint by 26.8% during the third quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after buying an additional 9,208 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in ChargePoint during the fourth quarter worth approximately $73,000. Finally, EFG International AG bought a new position in ChargePoint during the 4th quarter worth $72,000. Institutional investors own 37.77% of the company’s stock.

ChargePoint Company Profile

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.