ChargePoint Holdings Inc (NYSE:CHPT) price on Thursday, May 22, rose 5.45% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $0.73.
A look at the stock’s price movement, the close in the last trading session was $0.70. Turning to its 52-week performance, $2.44 and $0.51 were the 52-week high and 52-week low respectively. Overall, CHPT moved 19.55% over the past month.
ChargePoint Holdings Inc’s market cap currently stands at around $338.44 million, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 100.62M for the company’s revenue for the quarter, with a low and high estimate of 99.51M and 101.8M respectively. The average forecast suggests down to a -6.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 459.34M, representing a 10.13% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CHPT is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 12 recommend CHPT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CHPT’s current price about 11.64% and 14.97% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 64.78, while 7-day volatility ratio is 3.31% and 3.51% in the 30-day chart. Further, ChargePoint Holdings Inc (CHPT) has a beta value of 2.25, and an average true range (ATR) of 0.04. Analysts have given the company’s stock an average 52-week price target of $1.75, forecast between a low of $1.5 and high of $2. Looking at the price targets, the low is -105.48% off current price level while to achieve the yearly target high, price needs to move -173.97%. Nonetheless, investors will most likely welcome a -139.73% jump to $1.75 which is the analysts’ median price.
If we refocus on ChargePoint Holdings Inc (NYSE:CHPT), historical trading data shows that trading volumes averaged 16.80 million over the past 3 months. The company’s latest data on shares outstanding shows there are 456.10 million shares.
The 12.23% of ChargePoint Holdings Inc’s shares are in the hands of company insiders while institutional holders own 34.22% of the company’s shares. Current price change has pushed the stock -31.49% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CHPT stock continues to rise going into the next quarter.
