ChargePoint Sees Unusually Large Options Volume (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 4,998 call options on the company. This represents an increase of 130% compared to the average daily volume of 2,173 call options.

Analysts Set New Price Targets

A number of research firms have weighed in on CHPT. Roth Mkm set a $8.50 price target on shares of ChargePoint and gave the stock a “neutral” rating in a research note on Friday, December 5th. UBS Group dropped their price objective on ChargePoint from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 16th. B. Riley Financial cut their target price on ChargePoint from $11.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered their price target on ChargePoint from $9.00 to $6.50 and set a “sector perform” rating for the company in a research report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $8.63.

ChargePoint Trading Up 6.5%

NYSE CHPT traded up $0.30 during mid-day trading on Tuesday, hitting $4.81. The company’s stock had a trading volume of 117,220 shares, compared to its average volume of 489,395. The firm has a market capitalization of $113.64 million, a P/E ratio of -0.52 and a beta of 1.40. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93. ChargePoint has a 52-week low of $4.44 and a 52-week high of $17.78. The stock’s fifty day simple moving average is $5.91 and its two-hundred day simple moving average is $8.07.

Hedge Funds Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rothschild Investment LLC boosted its position in ChargePoint by 233.3% during the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company’s stock worth $33,000 after purchasing an additional 3,500 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in ChargePoint in the third quarter valued at about $60,000. Hsbc Holdings PLC purchased a new position in ChargePoint in the fourth quarter valued at about $73,000. EFG International AG acquired a new position in shares of ChargePoint during the fourth quarter worth about $72,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of ChargePoint in the fourth quarter worth about $125,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

About ChargePoint

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.