There is no way ChargePoint Holdings Inc. (CHPT) can keep these numbers up

ChargePoint Holdings Inc. (NYSE: CHPT) stock fell -7.11% on Friday to $5.62 against a previous-day closing price of $6.05. With 16.74 million shares changed hands, the volume of the stock remained heavier than its average volume of 10.27 million shares. During the session, the Specialty Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $6.03 whereas the lowest price it dropped to was $5.57. The 52-week range on CHPT shows that it touched its highest point at $19.92 and its lowest point at $4.96 during that stretch. It currently has a 1-year price target of $11.15. Beta for the stock currently stands at 1.63.

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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 down-trending over the past week, with a drop of -1.75%, but this was down by -22.91% over a month. Three-month performance dropped to -37.90% while six-month performance fell -39.83%. The stock lost -69.09% in the past year, while it has lost -41.03% so far this year. A look at the trailing 12-month EPS for CHPT yields -1.06 with Next year EPS estimates of -0.20. For the next quarter, that number is -0.13. This implies an EPS growth rate of -1.40% for this year and 63.00% for next year.

Float and Shares Shorts:

At present, 360.05 million CHPT shares are outstanding with a float of 304.87 million shares on hand for trading. On Aug 30, 2023, short shares totaled 70.31 million, which was 19.53% higher than short shares on Jul 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 54.64% of CHPT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 24.95% of CHPT, in contrast to 20.90% held by mutual funds. Shares owned by individuals account for 17.36%. As the largest shareholder in CHPT with 7.20% of the stake, The Vanguard Group, Inc. holds 25,437,584 shares worth 25,437,584. A second-largest stockholder of CHPT, BlackRock Fund Advisors, holds 13,259,167 shares, controlling over 3.75% of the firm’s shares. Canada Pension Plan Investment Bo is the third largest shareholder in CHPT, holding 7,819,268 shares or 2.21% stake. With a 2.56% stake in CHPT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 9,048,495 shares are owned by the mutual fund manager. The Canada Pension Plan, which owns about 2.21% of CHPT stock, is the second-largest Mutual Fund holder. It holds 7,805,000 shares valued at 55.88 million. Vanguard Small Cap Index Fund holds 2.08% of the stake in CHPT, owning 7,347,726 shares worth 52.61 million.

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 $17.00 and a low target of $7.00, the average target price over the next 12 months is $10.88. Based on these targets, CHPT could surge 202.49% to reach the target high and rise by 24.56% to reach the target low. Reaching the average price target will result in a growth of 93.59% 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 47 Buys and 44 Sells. In these transactions, 585,250 shares were bought while 914,858 shares were sold. The number of buy transactions has increased to 82 while that of sell transactions has risen to 121 over the past year. The total number of shares bought during that period was 3,303,070 while 27,613,668 shares were sold.

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