ChargePoint (NYSE:CHPT) Hits New 52-Week Low at $1.22

ChargePoint Holdings, Inc. (NYSE:CHPT)’s stock price reached a new 52-week low on Monday . The stock traded as low as $1.22 and last traded at $1.23, with a volume of 6052295 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

Several research firms recently weighed in on CHPT. The Goldman Sachs Group reissued a “sell” rating and set a $1.50 price target (down from $2.00) on shares of ChargePoint in a report on Tuesday, April 9th. Benchmark reaffirmed a “buy” rating and issued a $4.25 price objective on shares of ChargePoint in a report on Wednesday, March 6th. R. F. Lafferty dropped their price objective on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price objective on shares of ChargePoint in a report on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective (down from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.14.

ChargePoint Stock Performance

The business has a 50 day moving average of $1.82 and a two-hundred day moving average of $2.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.25.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. On average, equities research analysts forecast that ChargePoint Holdings, Inc. will post -0.63 earnings per share for the current year.

Insider Transactions at ChargePoint

In other news, CFO Mansi Khetani sold 19,035 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the sale, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at $788,205. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Mansi Khetani sold 19,035 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the sale, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at $788,205. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Linse sold 100,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the completion of the sale, the director now directly owns 1,209,867 shares of the company’s stock, valued at $2,347,141.98. The disclosure for this sale can be found here. Insiders sold a total of 154,846 shares of company stock valued at $296,562 over the last ninety days. 12.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ChargePoint

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of ChargePoint by 12.9% in the third quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock valued at $144,936,000 after acquiring an additional 3,325,694 shares in the last quarter. Norges Bank bought a new position in shares of ChargePoint in the fourth quarter valued at approximately $9,733,000. Wellington Management Group LLP grew its holdings in shares of ChargePoint by 418.2% in the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after acquiring an additional 2,035,496 shares in the last quarter. Invesco Ltd. grew its holdings in shares of ChargePoint by 19.2% in the third quarter. Invesco Ltd. now owns 2,193,049 shares of the company’s stock valued at $10,899,000 after acquiring an additional 353,988 shares in the last quarter. Finally, Cadian Capital Management LP bought a new position in shares of ChargePoint in the third quarter valued at approximately $4,970,000. 37.77% of the stock is owned by institutional investors.

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.