ChargePoint (NYSE:CHPT) Shares Down 4.4%

ChargePoint Holdings, Inc. (NYSE:CHPT)’s stock price fell 4.4% during trading on Monday . The stock traded as low as $1.31 and last traded at $1.31. 1,792,208 shares traded hands during trading, a decline of 87% from the average session volume of 13,894,660 shares. The stock had previously closed at $1.37.

Analyst Upgrades and Downgrades

Several research firms recently commented on CHPT. Needham & Company LLC dropped their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Benchmark reaffirmed a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a report on Thursday, September 5th. Evercore ISI decreased their target price on shares of ChargePoint from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada decreased their target price on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Thursday, September 5th. Finally, TD Cowen cut shares of ChargePoint from a “buy” rating to a “hold” rating and decreased their target price for the stock from $3.00 to $2.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.39.

ChargePoint Trading Up 0.7 %

The firm has a market capitalization of $595.58 million, a PE ratio of -1.16 and a beta of 1.70. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $1.83 and its 200 day simple moving average is $1.74.

Insider Buying and Selling at ChargePoint

In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the sale, the chief executive officer now directly owns 2,331,740 shares of the company’s stock, valued at $3,264,436. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total value of $65,394.00. Following the completion of the transaction, 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, CEO Richard Wilmer sold 27,722 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the transaction, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at $3,264,436. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,099 shares of company stock valued at $137,498. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Hedge funds and other institutional investors have recently modified their holdings of the stock. Balentine LLC bought a new position in shares of ChargePoint during the fourth quarter worth $26,000. CIBC Asset Management Inc lifted its position in ChargePoint by 50.7% during the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock valued at $26,000 after purchasing an additional 5,770 shares during the last quarter. CreativeOne Wealth LLC bought a new position in ChargePoint during the first quarter valued at $30,000. PDS Planning Inc bought a new position in ChargePoint during the first quarter valued at $31,000. Finally, Delap Wealth Advisory LLC bought a new position in ChargePoint during the second quarter valued at $31,000. 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.