Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ChargePoint Holdings Inc. shares valued at $66,500 were sold by Jansen Colleen on Sep 15. At $19.00 per share, Jansen Colleen sold 3,500 shares. The insider’s holdings dropped to 590,863 shares worth approximately $9.58 million following the completion of this transaction.
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Also, JACKSON REX S sold 63 shares, netting a total of over 1,121 in proceeds. Following the sale of shares at $17.79 each, the insider now holds 1,128,124 shares.
Before that, Loewenthal William J had sold 3,115 shares from its account. In a trade valued at $48,999, the Chief Product Officer traded ChargePoint Holdings Inc. shares for $15.73 each. Upon closing the transaction, the insider’s holdings decreased to 3,115 shares, worth approximately $7.1 million.
As published in their initiating research note from Credit Suisse on September 07, 2022, ChargePoint Holdings Inc. [CHPT] has been an Outperform and the price target has been revised to $22. This represents a 26.32% premium over Wednesday’s closing price. Analysts at B. Riley Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June. As of April 21, 2022, Tudor Pickering Holt & Co. has initiated its “Buy” rating for CHPT. Earlier on February 22, 2022, Needham resumed its rating. Their recommendation was “a Buy” for CHPT stock.
Analyzing CHPT’s Price Performance
On Wednesday, ChargePoint Holdings Inc. [NYSE: CHPT] plunged -1.40% to $16.21. The stock’s lowest price that day was $15.70, but it reached a high of $17.09 in the same session. During the last five days, there has been a drop of approximately -10.84%. Over the course of the year, ChargePoint Holdings Inc. shares have dropped approximately -14.91%. Shares of the company reached a 52-week high of $20.99 on 04/04/22 and a 52-week low of $8.50 on 05/12/22. A 50-day SMA is recorded $15.54, while a 200-day SMA reached $15.26. Nevertheless, trading volume fell to 9.25 million shares from 8.8 million shares the previous day.
Support And Resistance Levels for ChargePoint Holdings Inc. (CHPT)
According to the 24-hour chart, there is a support level at 15.58, which, if violated, would cause prices to drop to 14.94. In the upper region, resistance lies at 16.97. The next price resistance is at 17.72. RSI (Relative Strength Index) is 48.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.14, which suggests the price will decrease in the coming days. Percent R is at 65.09%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is ChargePoint Holdings Inc. subject to short interest?
Stocks of ChargePoint Holdings Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -3.47 million shares to 42.24 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 45.71 million shares. A decline of -8.21% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.28 of the overall float, the days-to-cover ratio (short ratio) decline to 4.28.
Which companies own the most shares of ChargePoint Holdings Inc. (CHPT)?
According to The Vanguard Group, Inc. filings, the company currently owns 20,792,970 shares, which is about 6.17% of the total CHPT shares outstanding. The investor’s shares have appreciated by 1,491,244 from its previous 13-F filing of 19301726.0 shares. BlackRock Fund Advisors reduced a -1.26% interest valued at $116.77 million while Goldman Sachs & Co. LLC purchased a 3,872,665 stake. A total of 445 shares of ChargePoint Holdings Inc. were bought by Baillie Gifford & Co. during the quarter, and -29,487 were sold by SSgA Funds Management, Inc. In its current portfolio, First Trust Advisors LP holds 2,967,906 shares valued at $48.29 million.
In terms of ChargePoint Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $23.28 in the next 12 months, up nearly 30.78% from the previous closing price of $16.44. Analysts anticipate ChargePoint Holdings Inc. stock to reach $46.00 by 2022, with the lowest price target being $13.00. In spite of this, 21 analysts ranked ChargePoint Holdings Inc. stock as a Buy at the end of 2022. On January 28, 2022, JP Morgan assigned a price target of “an Overweight” to the stock and upgraded coverage with a $20.