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 $47,453 were sold by Wilmer Richard on Mar 21 ’24. At $1.87 per share, Wilmer Richard sold 25,376 shares. The insider’s holdings dropped to 2,359,462 shares worth approximately $4.29 million following the completion of this transaction.
Also, Khetani Mansi sold 19,035 shares, netting a total of over 35,595 in proceeds. Following the sale of shares at $1.87 each, the insider now holds 421,500 shares.
Before that, Singh Jagdeep CA had sold 9,485 shares from its account. In a trade valued at $17,737, the CCXO traded ChargePoint Holdings Inc shares for $1.87 each. Upon closing the transaction, the insider’s holdings decreased to 9,485 shares, worth approximately $0.88 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 -4.21%. Over the course of the year, ChargePoint Holdings Inc shares have dropped approximately -22.22%. 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 $1.9410, while a 200-day SMA reached $4.1611. Nevertheless, trading volume fell to 10.17 million shares from 17.53 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 1.7767, which, if violated, would cause prices to drop to 1.7333. In the upper region, resistance lies at 1.8967. The next price resistance is at 1.9733. RSI (Relative Strength Index) is 47.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0074, which suggests the price will decrease in the coming days. Percent R is at 37.50%, 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 rise in short interest on Mar 15, 2024 jumping by 15.66 million shares to 105.31 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 89.65 million shares. A jump of 14.87% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.23 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.23.
