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ChargePoint Holdings Inc.’s (NYSE:CHPT) Stock Is Up 7.03%, But Is It Capable Of A Rally?

ChargePoint Holdings Inc. (NYSE:CHPT) traded at $11.87 at close of the session on Monday, 01/23/23, made an upward move of 7.03% on its previous day’s price.

Looking at the stock we see that its previous close was $11.09 and the beta (5Y monthly) reads 1.78 with the day’s price range being $10.95 – $11.9099. In terms of its 52-week price range, CHPT has a high of $20.99 and a low of $8.07. The company’s stock has gained about 24.68% over that past 30 days.

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ChargePoint Holdings Inc. has a market cap of $3.90 billion and is expected to release its quarterly earnings report on Feb 28, 2023 – Mar 06, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.19, with the EPS growth for the year raised at -$0.78 for 2023 and -$0.56 for next year. These figures represent -27.90% and 28.20% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $132.12 million, with a low of $125 million and a high of $140 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $482.03 million, or 100.00% up from figures reported last year.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CHPT stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Looking further, we note the current price level is 19.81% off its SMA20 and 8.42% from its 50-day simple moving average. The RSI (14) is pointing at 59.95 while the volatility over the past week is 7.38% and jumps to 7.37% over the past one month. The beta value is 1.66, while the average true range (ATR) is currently pointing at 0.79.

Let’s briefly compare ChargePoint Holdings Inc. (CHPT) stock to its peers. We find that current price change of 7.03% and -15.99% over the past 12 months for CHPT. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.19% and 0.76%, respectively, at close of the trading.

Coming back to ChargePoint Holdings Inc. (NYSE:CHPT), we note that the average 3-month trading volume was 9.42 million, while that of the preceding 10-day period stands at 11.7 million. Current shares outstanding are 341.68 million.

The insiders hold 2.70% of the company’s shares while institutions hold 53.40%. The data shows that short shares as of Oct 13, 2022, stood at 40.11 million at a short ratio of 4.22. This represents a 11.80% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 41.76 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 24.55% up in year-to-date price movement.

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