Stock Traders Buy High Volume of ChargePoint Call Options (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 79,522 call options on the company. This represents an increase of 99% compared to the average daily volume of 39,861 call options.

ChargePoint Stock Down 1.8 %

CHPT opened at $1.34 on Wednesday. ChargePoint has a 1-year low of $1.21 and a 1-year high of $10.10. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $558.07 million, a price-to-earnings ratio of -1.08 and a beta of 1.62. The business has a 50 day moving average of $1.82 and a 200-day moving average of $2.21.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. The company had revenue of $115.83 million during the quarter, compared to analysts’ expectations of $126.48 million. As a group, sell-side analysts anticipate that ChargePoint will post -0.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHPT. The Goldman Sachs Group reissued a “sell” rating and set a $1.50 target price (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. R. F. Lafferty reduced their price objective on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a research note on Thursday, April 4th. DA Davidson reaffirmed a “buy” rating and set a $4.00 price target on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 price target (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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.14.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CHPT. Balentine LLC acquired a new position in ChargePoint during the fourth quarter worth $26,000. RWA Wealth Partners LLC acquired a new position in ChargePoint during the fourth quarter worth $31,000. Ingalls & Snyder LLC acquired a new position in ChargePoint during the fourth quarter worth $33,000. Sigma Planning Corp acquired a new position in ChargePoint during the fourth quarter worth $33,000. Finally, TCG Advisory Services LLC acquired a new position in ChargePoint during the fourth quarter worth $33,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.

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.