ChargePoint Holdings Inc [CHPT] Records 200-Day SMA of $4.7181

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. ChargePoint Holdings Inc shares valued at $2,982,181 were sold by Linse Michael on Mar 08 ’24. At $1.95 per share, Linse Michael sold 1,525,879 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Linse Michael sold 100,000 shares, netting a total of over 194,360 in proceeds. Following the sale of shares at $1.94 each, the insider now holds 1,209,867 shares.

Before that, Hughes Michael D had sold 13,995 shares from its account. In a trade valued at $33,830, the insider traded ChargePoint Holdings Inc shares for $2.42 each. Upon closing the transaction, the insider’s holdings decreased to 13,995 shares, worth approximately $1.52 million.

As published in a research note from RBC Capital Mkts on March 06, 2024, ChargePoint Holdings Inc [CHPT] has been rated down from an Outperform to a Sector perform and the price target has been revised to $3 from $3.50. Analysts at The Benchmark Company started covering the stock with ‘”a Buy”‘ outlook in a report released in late February. As of December 07, 2023, B. Riley Securities has decreased its “Buy” rating to a “Neutral” for CHPT. Earlier on December 04, 2023, HSBC Securities initiated its rating. Their recommendation was “a Hold” for CHPT stock.

Analyzing CHPT Stock Performance

During the last five days, there has been a drop of approximately -7.77%. Over the course of the year, ChargePoint Holdings Inc shares have dropped approximately -23.93%. Shares of the company reached a 52-week high of $2.3700 on 02/15/24 and a 52-week low of $1.5600 on 01/19/24. A 50-day SMA is recorded $2.0024, while a 200-day SMA reached $4.7181. Nevertheless, trading volume fell to 12.18 million shares from 11.67 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 1.7400, which, if violated, would cause prices to drop to 1.7000. In the upper region, resistance lies at 1.8500. The next price resistance is at 1.9200. RSI (Relative Strength Index) is 37.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1145, which suggests the price will decrease in the coming days. Percent R is at 97.37%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is ChargePoint Holdings Inc subject to short interest?

Stocks of ChargePoint Holdings Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 5.65 million shares to 90.75 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 85.1 million shares. A jump of 6.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.01 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.01.

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