ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating)’s stock price hit a new 52-week low during trading on Friday after Piper Sandler lowered their price target on the stock from $16.00 to $13.00. Piper Sandler currently has a neutral rating on the stock. ChargePoint traded as low as $8.50 and last traded at $8.51, with a volume of 153459 shares. The stock had previously closed at $8.90.
A number of other equities research analysts have also recently issued reports on CHPT. Credit Suisse Group assumed coverage on shares of ChargePoint in a research note on Wednesday, September 7th. They issued an “outperform” rating and a $22.00 price objective for the company. B. Riley dropped their price target on shares of ChargePoint from $20.00 to $18.00 in a research report on Monday, November 7th. Needham & Company LLC dropped their price target on shares of ChargePoint from $24.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. Citigroup dropped their price target on shares of ChargePoint from $15.50 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 29th. Finally, R. F. Lafferty dropped their price target on shares of ChargePoint from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, December 5th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, ChargePoint currently has a consensus rating of “Moderate Buy” and an average target price of $20.64.
Insider Buying and Selling
In related news, insider Michael D. Hughes sold 25,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $15.11, for a total value of $377,750.00. Following the completion of the transaction, the insider now directly owns 955,094 shares in the company, valued at approximately $14,431,470.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ChargePoint news, insider Michael D. Hughes sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $15.11, for a total transaction of $377,750.00. Following the completion of the sale, the insider now directly owns 955,094 shares in the company, valued at approximately $14,431,470.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Chizen sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $15.11, for a total transaction of $151,100.00. Following the sale, the director now owns 24,162 shares of the company’s stock, valued at $365,087.82. The disclosure for this sale can be found here. Insiders sold a total of 233,033 shares of company stock worth $2,480,825 in the last three months. 23.64% of the stock is owned by corporate insiders.
Institutional Trading of ChargePoint
Institutional investors and hedge funds have recently bought and sold shares of the company. Guardian Wealth Advisors LLC purchased a new stake in shares of ChargePoint during the 3rd quarter valued at about $26,000. Total Clarity Wealth Management Inc. purchased a new stake in shares of ChargePoint during the 2nd quarter valued at about $26,000. CoreCap Advisors LLC purchased a new stake in shares of ChargePoint during the 2nd quarter valued at about $30,000. Wolff Wiese Magana LLC purchased a new stake in shares of ChargePoint during the 2nd quarter valued at about $31,000. Finally, Allworth Financial LP boosted its holdings in shares of ChargePoint by 75.8% during the 3rd quarter. Allworth Financial LP now owns 2,667 shares of the company’s stock valued at $39,000 after acquiring an additional 1,150 shares during the last quarter. 44.87% of the stock is currently owned by institutional investors.
ChargePoint Trading Down 4.4 %
The business’s fifty day moving average price is $12.14 and its 200-day moving average price is $13.95. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.43 and a current ratio of 2.69.
About ChargePoint
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.