ChargePoint Holdings Inc. (NYSE: CHPT) stock fell -1.53% on Wednesday to $8.36 against a previous-day closing price of $8.49. With 4.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 8.36 million shares. The 52-week range on CHPT shows that it touched its highest point at $19.92 and its lowest point at $7.82 during that stretch. It currently has a 1-year price target of $17.27. Beta for the stock currently stands at 1.69.
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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 up-trending over the past week, with a rise of 0.36%, but this was down by -2.79% over a month. Three-month performance dropped to -26.80% while six-month performance fell -28.61%. The stock lost -26.02% in the past year, while it has lost -12.28% so far this year. A look at the trailing 12-month EPS for CHPT yields -1.02 with Next year EPS estimates of -0.15. For the next quarter, that number is -0.14. This implies an EPS growth rate of -1.40% for this year and 67.40% for next year.
Float and Shares Shorts:
At present, 350.49 million CHPT shares are outstanding with a float of 327.96 million shares on hand for trading. On Apr 27, 2023, short shares totaled 59.61 million, which was 17.01% higher than short shares on Mar 30, 2023. In addition to Mr. Pasquale Romano as the firm’s Pres, CEO & Director, Mr. Rex S. Jackson serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 51.47% of CHPT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 27.04% of CHPT, in contrast to 20.08% held by mutual funds. Shares owned by individuals account for 14.75%. As the largest shareholder in CHPT with 6.97% of the stake, The Vanguard Group, Inc. holds 24,410,587 shares worth 24,410,587. A second-largest stockholder of CHPT, BlackRock Fund Advisors, holds 12,047,918 shares, controlling over 3.44% of the firm’s shares. Canada Pension Plan Investment Bo is the third largest shareholder in CHPT, holding 7,819,268 shares or 2.23% stake. With a 2.42% stake in CHPT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 8,480,420 shares are owned by the mutual fund manager. The Canada Pension Plan, which owns about 2.23% of CHPT stock, is the second-largest Mutual Fund holder. It holds 7,805,000 shares valued at 67.67 million. Vanguard Small Cap Index Fund holds 2.04% of the stake in CHPT, owning 7,151,960 shares worth 62.01 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jan 30, 2023, CHPT reported revenue of $81.63M and operating income of -$89.83M. The EBITDA in the recently reported quarter was -$83.95M and diluted EPS was -$0.27.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CHPT since 0 analysts follow the stock currently. 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 $26.00 and a low target of $10.00, the average target price over the next 12 months is $17.00. Based on these targets, CHPT could surge 211.0% to reach the target high and rise by 19.62% to reach the target low. Reaching the average price target will result in a growth of 103.35% 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.
Summary of Insider Activity:
Insiders traded CHPT stock several times over the past three months with 8 Buys and 20 Sells. In these transactions, 113,050 shares were bought while 5,194,221 shares were sold. The number of buy transactions has increased to 80 while that of sell transactions has risen to 112 over the past year. The total number of shares bought during that period was 7,559,260 while 34,250,519 shares were sold.
