ChargePoint Target of Unusually Large Options Trading (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPT) was the recipient of some unusual options trading activity on Thursday. Stock investors bought 91,436 call options on the company. This is an increase of 181% compared to the typical daily volume of 32,509 call options.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHPT shares. TD Cowen reduced their target price on shares of ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 target price (down from $3.50) on shares of ChargePoint in a report on Wednesday, March 6th. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of ChargePoint in a report on Thursday, June 6th. Oppenheimer restated a “market perform” rating on shares of ChargePoint in a report on Wednesday, March 6th. Finally, Benchmark restated a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and an average target price of $4.96.

ChargePoint Stock Down 6.0 %

CHPT opened at $1.41 on Friday. The firm has a 50 day moving average price of $1.63 and a 200 day moving average price of $1.90. The company has a market cap of $596.94 million, a PE ratio of -1.18 and a beta of 1.74. ChargePoint has a 1 year low of $1.21 and a 1 year high of $9.23. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13.

Institutional Trading of ChargePoint

Several large investors have recently bought and sold shares of the company. Mutual Advisors LLC grew its position in ChargePoint by 9.2% in the third quarter. Mutual Advisors LLC now owns 43,910 shares of the company’s stock valued at $218,000 after acquiring an additional 3,700 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of ChargePoint by 3.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after buying an additional 4,910 shares in the last quarter. Independent Advisor Alliance grew its position in shares of ChargePoint by 34.2% during the fourth quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock worth $47,000 after buying an additional 5,085 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of ChargePoint by 3.2% during the third quarter. Janney Montgomery Scott LLC now owns 199,741 shares of the company’s stock worth $993,000 after buying an additional 6,197 shares in the last quarter. Finally, O ROURKE & COMPANY Inc grew its position in shares of ChargePoint by 34.2% during the fourth quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock worth $57,000 after buying an additional 6,207 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.