ChargePoint (NYSE:CHPT) Shares Down 4.4%

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) traded down 4.4% during mid-day trading on Monday . The company traded as low as $1.31 and last traded at $1.31. 1,792,208 shares were traded during mid-day trading, a decline of 87% from the average session volume of 13,894,660 shares. The stock had previously closed at $1.37.

Analyst Ratings Changes

CHPT has been the topic of several research analyst reports. Benchmark restated a “buy” rating and set a $3.00 price target on shares of ChargePoint in a report on Thursday, September 5th. Needham & Company LLC dropped their target price on ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. B. Riley raised ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Evercore ISI lowered their price target on ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group cut their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.39.

ChargePoint Price Performance

The stock has a market cap of $625.79 million, a price-to-earnings ratio of -1.29 and a beta of 1.70. The stock has a fifty day simple moving average of $1.81 and a 200-day simple moving average of $1.73. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 1.24.

Insider Transactions at ChargePoint

In other ChargePoint news, CFO Mansi Khetani sold 19,007 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the sale, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Henrik Gerdes sold 43,596 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at $657,006. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mansi Khetani sold 19,007 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total value of $26,609.80. Following the completion of the transaction, the chief financial officer now directly owns 402,493 shares of the company’s stock, valued at $563,490.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,099 shares of company stock worth $137,498. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of CHPT. Victory Capital Management Inc. boosted its position in shares of ChargePoint by 30.9% during the 4th quarter. Victory Capital Management Inc. now owns 38,112 shares of the company’s stock valued at $89,000 after acquiring an additional 8,992 shares in the last quarter. QRG Capital Management Inc. grew its position in ChargePoint by 161.8% in the fourth quarter. QRG Capital Management Inc. now owns 30,662 shares of the company’s stock valued at $72,000 after acquiring an additional 18,951 shares during the period. Independent Advisor Alliance boosted its stake in shares of ChargePoint by 34.2% in the 4th quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock valued at $47,000 after purchasing an additional 5,085 shares in the last quarter. Norges Bank bought a new stake in shares of ChargePoint in the 4th quarter worth about $9,733,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of ChargePoint during the 4th quarter worth about $42,000. Institutional investors own 37.77% of the company’s stock.

About ChargePoint

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.