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JP Morgan Downgrades ChargePoint Holdings Inc (CHPT) to an Underweight from an Overweight

In a filing, ChargePoint Holdings Inc revealed its Officer Gerdes Henrik acquired Company’s shares for reported $34700.0 on Oct 11 ’24. In the deal valued at $1.32 per share,26,288 shares were bought.

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Then, Wilmer Richard sold 27,252 shares, generating $36,790 in total proceeds. Upon selling the shares at $1.35, the President and CEO now owns 2,304,489 shares.

Before that, Singh Jagdeep CA sold 13,361 shares. ChargePoint Holdings Inc shares valued at $18,037 were divested by the CCXO at a price of $1.35 per share. As a result of the transaction, Singh Jagdeep CA now holds 873,004 shares, worth roughly $1.17 million.

JP Morgan downgraded its ChargePoint Holdings Inc [CHPT] rating to an Underweight from a an Overweight in a research note published recently. TD Cowen also remained covering CHPT and has decreased its forecast on September 05, 2024 with a “Hold” recommendation from previously “Buy” rating. Goldman revised its rating on April 09, 2024. It rated CHPT as “a Sell” which previously was an “a Neutral”.

Price Performance Review of CHPT

On Friday, ChargePoint Holdings Inc [NYSE:CHPT] saw its stock jump 2.29% to $1.34. Over the last five days, the stock has lost -5.63%. ChargePoint Holdings Inc shares have fallen nearly -42.74% since the year began. Nevertheless, the stocks have fallen -64.55% over the past one year. While a 52-week high of $4.62 was reached on 07/17/24, a 52-week low of $1.21 was recorded on 04/22/24. SMA at 50 days reached $1.5634, while 200 days put it at $1.7650.

Levels Of Support And Resistance For CHPT Stock

The 24-hour chart illustrates a support level at 1.3033, which if violated will result in even more drops to 1.2667. On the upside, there is a resistance level at 1.3633. A further resistance level may holdings at 1.3867. The Relative Strength Index (RSI) on the 14-day chart is 43.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0271, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.43%. Stochastics %K at 28.57% indicates the stock is a holding.

How much short interest is there in ChargePoint Holdings Inc?

A steep rise in short interest was recorded in ChargePoint Holdings Inc stocks on 2024-09-30, growing by 3.65 million shares to a total of 109.49 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 105.84 million shares. There was a rise of 3.33%, which implies that there is a positive sentiment for the stock.

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