A share of ChargePoint Holdings Inc. (NYSE:CHPT) closed at $11.87 per share on Monday, up from $11.09 day before. While ChargePoint Holdings Inc. has overperformed by 7.03%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CHPT fell by -15.99%, with highs and lows ranging from $20.99 to $8.07, whereas the simple moving average fell by -11.79% in the last 200 days.
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On October 20, 2022, Needham Reiterated ChargePoint Holdings Inc. (NYSE: CHPT) to Buy. A report published by Credit Suisse on September 07, 2022, Initiated its previous ‘Outperform’ rating for CHPT. B. Riley Securities also rated CHPT shares as ‘Buy’, setting a target price of $20 on the company’s shares in an initiating report dated June 17, 2022. Tudor Pickering Holt & Co. Initiated an Buy rating on April 21, 2022, and assigned a price target of $22. Needham resumed its ‘Buy’ rating for CHPT, as published in its report on February 22, 2022. JP Morgan’s report from January 28, 2022 suggests a price prediction of $20 for CHPT shares, giving the stock a ‘Overweight’ rating. CapitalOne also rated the stock as ‘Equal Weight’.
Analysis of ChargePoint Holdings Inc. (CHPT)
Further, the quarter-over-quarter increase in sales is 92.80%, showing a positive trend in the upcoming months.
ChargePoint Holdings Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -75.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and CHPT is registering an average volume of 9.42M. On a monthly basis, the volatility of the stock is set at 7.37%, whereas on a weekly basis, it is put at 7.38%, with a loss of -0.08% over the past seven days. Furthermore, long-term investors anticipate a median target price of $20.82, showing growth from the present price of $11.87, which can serve as yet another indication of whether CHPT is worth investing in or should be passed over.
How Do You Analyze ChargePoint Holdings Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.70%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 53.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CHPT shares?
The recent increase in stakes in CHPT appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in CHPT has increased by 6.46% in the first quarter. The company now owns 22,137,194 shares of the stock, with a value of $210.97 million, following the purchase of 1,344,224 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in CHPT during the first quarter, upping its stake by 30.85%.
At the end of the first quarter, SSgA Funds Management, Inc. increased its CHPT holdings by 11.09% and now holds 3.69 million CHPT shares valued at $35.13 million with the added 0.37 million shares during the period. CHPT shares are owned by institutional investors to the tune of 53.40% at present.
