ChargePoint Sees Unusually Large Options Volume (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the target of some unusual options trading activity on Thursday. Stock traders acquired 91,436 call options on the company. This represents an increase of approximately 181% compared to the average volume of 32,509 call options.

ChargePoint Price Performance

Shares of ChargePoint stock opened at $1.50 on Thursday. The firm has a market cap of $635.04 million, a P/E ratio of -1.27 and a beta of 1.74. The firm’s 50-day simple moving average is $1.64 and its 200-day simple moving average is $1.91. ChargePoint has a twelve month low of $1.21 and a twelve month high of $9.23. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of ChargePoint by 12.9% during the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock worth $144,936,000 after buying an additional 3,325,694 shares during the period. Ingalls & Snyder LLC bought a new stake in shares of ChargePoint in the 4th quarter worth about $33,000. Wellington Management Group LLP grew its holdings in shares of ChargePoint by 418.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after purchasing an additional 2,035,496 shares during the last quarter. M&T Bank Corp increased its position in shares of ChargePoint by 484.7% during the 4th quarter. M&T Bank Corp now owns 73,396 shares of the company’s stock worth $172,000 after purchasing an additional 60,843 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in ChargePoint by 160.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 111,982 shares of the company’s stock valued at $557,000 after purchasing an additional 69,044 shares during the last quarter. 37.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. Benchmark reissued a “buy” rating and set a $4.25 target price on shares of ChargePoint in a research report on Wednesday, March 6th. DA Davidson reaffirmed a “buy” rating and issued a $4.00 price target on shares of ChargePoint in a research report on Wednesday, March 6th. Oppenheimer reissued a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $3.00 target price (down previously from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ChargePoint presently has a consensus rating of “Hold” and a consensus price target of $4.96.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.