GSA Capital Partners LLP Has $328,000 Stock Position in ChargePoint Holdings, Inc. $CHPT

GSA Capital Partners LLP lessened its position in shares of ChargePoint Holdings, Inc. (NYSE:CHPT) by 97.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 30,054 shares of the company’s stock after selling 1,011,956 shares during the quarter. GSA Capital Partners LLP’s holdings in ChargePoint were worth $328,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CHPT. Focus Partners Wealth bought a new stake in shares of ChargePoint in the 1st quarter valued at $27,000. Ethic Inc. bought a new position in ChargePoint during the second quarter worth $32,000. Corient Private Wealth LLC lifted its holdings in ChargePoint by 57.1% in the second quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock valued at $47,000 after buying an additional 24,470 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in ChargePoint during the third quarter valued at $60,000. Finally, Jump Financial LLC bought a new stake in ChargePoint during the second quarter valued at $66,000. Institutional investors own 37.77% of the company’s stock.

Insiders Place Their Bets

In other ChargePoint news, CFO Mansi Khetani sold 3,943 shares of ChargePoint stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the transaction, the chief financial officer directly owned 130,363 shares of the company’s stock, valued at $911,237.37. The trade was a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jagdeep Ca Singh sold 4,832 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $6.99, for a total transaction of $33,775.68. Following the transaction, the insider owned 124,627 shares in the company, valued at approximately $871,142.73. This trade represents a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,670 shares of company stock worth $88,534 over the last ninety days. Insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “sell” rating and issued a $5.00 price objective on shares of ChargePoint in a research report on Thursday, January 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 target price (down from $10.00) on shares of ChargePoint in a report on Friday, December 5th. Roth Mkm set a $8.50 price target on ChargePoint and gave the stock a “neutral” rating in a report on Friday, December 5th. B. Riley Financial reduced their price objective on shares of ChargePoint from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, December 10th. Finally, UBS Group reiterated a “neutral” rating and set a $9.00 target price (down from $12.00) on shares of ChargePoint in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, ChargePoint currently has a consensus rating of “Reduce” and an average target price of $12.15.

ChargePoint Trading Up 0.3%

Shares of ChargePoint stock opened at $6.57 on Friday. The stock has a market capitalization of $155.38 million, a PE ratio of -0.64 and a beta of 1.40. ChargePoint Holdings, Inc. has a 52 week low of $5.53 and a 52 week high of $17.78. The stock has a 50 day moving average price of $6.56 and a two-hundred day moving average price of $8.98. The company has a debt-to-equity ratio of 8.38, a quick ratio of 0.93 and a current ratio of 1.59.

ChargePoint (NYSE:CHPT) last issued its earnings results on Thursday, December 4th. The company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.88). ChargePoint had a negative return on equity of 209.46% and a negative net margin of 59.54%.The firm had revenue of $105.67 million during the quarter, compared to the consensus estimate of $96.51 million. During the same quarter in the prior year, the business earned ($1.94) earnings per share. As a group, equities analysts anticipate that ChargePoint Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

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.