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ChargePoint Holdings Inc (CHPT) gets rating Downgrade from Goldman

ChargePoint Holdings Inc’s filing revealed that its President and CEO Wilmer Richard unloaded Company’s shares for reported $47453.0 on Mar 21 ’24. In the deal valued at $1.87 per share,25,376 shares were sold. As a result of this transaction, Wilmer Richard now holds 2,359,462 shares worth roughly $4.06 million.

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Then, Khetani Mansi sold 19,035 shares, generating $35,595 in total proceeds. Upon selling the shares at $1.87, the Interim CFO now owns 421,500 shares.

Before that, Singh Jagdeep CA sold 9,485 shares. ChargePoint Holdings Inc shares valued at $17,737 were divested by the CCXO at a price of $1.87 per share. As a result of the transaction, Singh Jagdeep CA now holds 484,503 shares, worth roughly $0.83 million.

Goldman downgraded its ChargePoint Holdings Inc [CHPT] rating to a Sell from a a Neutral in a research note published on April 09, 2024; the price target was decreased to $1.50 from $2. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who decreased its forecast for the stock in early March from “an Outperform” to “a Sector perform”. The Benchmark Company began covering CHPT with “Buy” recommendation on February 21, 2024. B. Riley Securities revised its rating on December 07, 2023. It rated CHPT as “a Neutral” which previously was an “a Buy”.

Price Performance Review of CHPT

On Monday, ChargePoint Holdings Inc [NYSE:CHPT] saw its stock jump 12.42% to $1.72. Over the last five days, the stock has lost -3.37%. ChargePoint Holdings Inc shares have fallen nearly -26.50% since the year began. Nevertheless, the stocks have fallen -79.95% over the past one year. While a 52-week high of $10.10 was reached on 02/15/24, a 52-week low of $1.21 was recorded on 04/22/24. SMA at 50 days reached $1.6746, while 200 days put it at $3.2376. A total of 12.7 million shares were traded, compared to the trading of 11.01 million shares in the previous session.

Levels Of Support And Resistance For CHPT Stock

The 24-hour chart illustrates a support level at 1.5867, which if violated will result in even more drops to 1.4533. On the upside, there is a resistance level at 1.7867. A further resistance level may holdings at 1.8533. The Relative Strength Index (RSI) on the 14-day chart is 56.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.1252, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 21.88%. Stochastics %K at 66.80% indicates the stock is a holding.

The most recent change occurred on December 04, 2023 when HSBC Securities began covering the stock and recommended ‘”a Hold”‘ rating along with a $2 price target.

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