Van ECK Associates Corp bought a new position in ChargePoint Holdings, Inc. (NYSE:CHPT – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 85,364 shares of the company’s stock, valued at approximately $894,000.
Several other large investors also recently modified their holdings of the business. Great Valley Advisor Group Inc. grew its stake in shares of ChargePoint by 57.2% in the first quarter. Great Valley Advisor Group Inc. now owns 30,378 shares of the company’s stock worth $318,000 after purchasing an additional 11,053 shares during the last quarter. Victory Capital Management Inc. boosted its position in ChargePoint by 59.6% during the 1st quarter. Victory Capital Management Inc. now owns 146,915 shares of the company’s stock valued at $1,538,000 after acquiring an additional 54,887 shares in the last quarter. Ieq Capital LLC boosted its position in ChargePoint by 49.3% during the 1st quarter. Ieq Capital LLC now owns 18,737 shares of the company’s stock valued at $196,000 after acquiring an additional 6,187 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in ChargePoint by 1.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 82,699 shares of the company’s stock valued at $866,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in ChargePoint during the 1st quarter valued at approximately $38,000. 35.23% of the stock is owned by institutional investors.
ChargePoint Price Performance
Shares of NYSE CHPT opened at $8.05 on Friday. ChargePoint Holdings, Inc. has a twelve month low of $7.22 and a twelve month high of $19.92. The company has a 50 day moving average of $8.63 and a 200 day moving average of $9.58. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.97 and a current ratio of 2.37.
ChargePoint (NYSE:CHPT – Get Free Report) last announced its quarterly earnings data on Thursday, June 1st. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. ChargePoint had a negative net margin of 64.78% and a negative return on equity of 88.36%. The company had revenue of $130.00 million during the quarter, compared to analyst estimates of $128.27 million. During the same period in the previous year, the business earned ($0.26) EPS. The firm’s revenue for the quarter was up 59.3% on a year-over-year basis. As a group, equities research analysts predict that ChargePoint Holdings, Inc. will post -0.75 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have weighed in on CHPT shares. Stifel Nicolaus cut their price objective on ChargePoint from $25.00 to $17.00 in a research report on Tuesday, April 25th. Bank of America raised ChargePoint from a “neutral” rating to a “buy” rating and cut their price objective for the company from $15.50 to $14.00 in a research report on Tuesday, May 30th. Citigroup dropped their price target on ChargePoint from $13.00 to $10.80 in a research report on Tuesday, June 20th. B. Riley dropped their price target on ChargePoint from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, July 20th. Finally, Guggenheim began coverage on ChargePoint in a research report on Tuesday, May 2nd. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.52.
Insider Buying and Selling at ChargePoint
In other ChargePoint news, insider Michael D. Hughes sold 94,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $8.34, for a total transaction of $783,960.00. Following the completion of the sale, the insider now directly owns 897,894 shares in the company, valued at approximately $7,488,435.96. The sale was disclosed in a document filed with the SEC, which is available through this link. In other ChargePoint news, insider Michael D. Hughes sold 94,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $8.34, for a total transaction of $783,960.00. Following the completion of the sale, the insider now directly owns 897,894 shares in the company, valued at approximately $7,488,435.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael D. Hughes sold 58,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $8.41, for a total transaction of $487,780.00. Following the sale, the insider now owns 897,894 shares of the company’s stock, valued at $7,551,288.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 890,111 shares of company stock worth $7,746,437. Insiders own 12.90% of the company’s stock.
ChargePoint Profile
(Free Report)
ChargePoint Holdings, Inc, together with its subsidiaries, 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. ChargePoint Holdings, Inc was founded in 2007 and is headquartered in Campbell, California.
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