ChargePoint Holdings Inc. (NYSE: CHPT) stock jumped 4.03% on Friday to $11.09 against a previous-day closing price of $10.66. With 6.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 9.45 million shares. During the session, the Specialty Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $11.10 whereas the lowest price it dropped to was $10.61. The 52-week range on CHPT shows that it touched its highest point at $20.99 and its lowest point at $8.07 during that stretch. It currently has a 1-year price target of $20.82. Beta for the stock currently stands at 1.66.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CHPT was down-trending over the past week, with a drop of -2.46%, but this was up by 14.80% over a month. Three-month performance dropped to -14.63% while six-month performance fell -24.76%. The stock lost -22.12% in the past year, while it has gained 16.37% so far this year. A look at the trailing 12-month EPS for CHPT yields -0.97 with Next year EPS estimates of -0.53. For the next quarter, that number is -0.17. This implies an EPS growth rate of -18.10% for this year and 25.40% for next year.
Float and Shares Shorts:
At present, 341.68 million CHPT shares are outstanding with a float of 328.11 million shares on hand for trading. On Oct 13, 2022, short shares totaled 40.11 million, which was 11.80% higher than short shares on Sep 14, 2022. In addition to Mr. Pasquale Romano as the firm’s Pres, CEO & Director, Mr. Rex S. Jackson serves as its Chief Financial Officer.
Through their ownership of 54.76% of CHPT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 24.79% of CHPT, in contrast to 20.14% held by mutual funds. Shares owned by individuals account for 11.15%. As the largest shareholder in CHPT with 6.48% of the stake, The Vanguard Group, Inc. holds 22,137,194 shares worth 22,137,194. A second-largest stockholder of CHPT, BlackRock Fund Advisors, holds 9,390,927 shares, controlling over 2.75% of the firm’s shares. Canada Pension Plan Investment Bo is the third largest shareholder in CHPT, holding 7,819,268 shares or 2.29% stake. With a 2.44% stake in CHPT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 8,319,837 shares are owned by the mutual fund manager. The Canada Pension Plan, which owns about 2.28% of CHPT stock, is the second-largest Mutual Fund holder. It holds 7,805,000 shares valued at 74.38 million. Vanguard Small Cap Index Fund holds 2.05% of the stake in CHPT, owning 7,005,973 shares worth 66.77 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CHPT since 21 analysts follow the stock currently. There are 16 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CHPT analysts setting a high price target of $46.00 and a low target of $13.00, the average target price over the next 12 months is $20.82. Based on these targets, CHPT could surge 314.79% to reach the target high and rise by 17.22% to reach the target low. Reaching the average price target will result in a growth of 87.74% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CHPT will report FY 2023 earnings on 03/02/2023. Analysts have provided yearly estimates in a range of -$0.69 being high and -$1.03 being low. For CHPT, this leads to a yearly average estimate of -$0.85. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. ChargePoint Holdings Inc. surprised analysts by $0.04 when it reported -$0.17 EPS against a consensus estimate of -$0.20. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.14 and the low estimate is -$0.24. The average estimate for the next quarter is thus -$0.19.
Summary of Insider Activity:
Insiders traded CHPT stock several times over the past three months with 7 Buys and 18 Sells. In these transactions, 1,836,063 shares were bought while 13,545,342 shares were sold. The number of buy transactions has increased to 89 while that of sell transactions has risen to 116 over the past year. The total number of shares bought during that period was 7,588,289 while 37,165,100 shares were sold.