ChargePoint Holdings Inc (NYSE:CHPT) shares, rose in value, with the stock price down by -0.55% to the previous day’s close as strong demand from buyers drove the stock to $1.82.
Actively observing the price movement in the last trading, the stock closed the session at $1.83. The value of beta (5-year monthly) was 1.63. Referring to stock’s 52-week performance, its high was $10.51, and the low was $1.56. On the whole, CHPT has fluctuated by -9.00% over the past month.
With the market capitalization of ChargePoint Holdings Inc currently standing at about $770.52 million, investors are eagerly awaiting this quarter’s results, scheduled for May 28, 2024 – Jun 03, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.13, which is expected to increase to -$0.07 for fiscal year -$0.34 and then to about -$0.16 by fiscal year 2026. Data indicates that the EPS growth is expected to be 57.00% in 2026, while the next year’s EPS growth is forecast to be 52.90%.
Analysts have estimated the company’s revenue for the quarter at $105.73 million, with a low estimate of $100 million and a high estimate of $110 million. According to the average forecast, sales growth in current quarter could jump down -17.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $558.69 million, representing an increase of 10.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CHPT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CHPT currently trading nearly 0.41% and -6.56% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.67, while the 7-day volatility ratio is showing 6.64% which for the 30-day chart, stands at 7.11%. Furthermore, ChargePoint Holdings Inc (CHPT)’s beta value is 1.61, and its average true range (ATR) is 0.13.
A comparison of ChargePoint Holdings Inc (CHPT) with its peers suggests the former has fared considerably weaker in the market. CHPT showed an intraday change of -0.55% in last session, and over the past year, it shrunk by -82.35%%.
Data on historical trading for ChargePoint Holdings Inc (NYSE:CHPT) indicates that the trading volumes over the past 10 days have averaged 15.2 million and over the past 3 months, they’ve averaged 15.01 million. According to company’s latest data on outstanding shares, there are 421.12 million shares outstanding.
Nearly 12.88% of ChargePoint Holdings Inc’s shares belong to company insiders and institutional investors own 32.66% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 105.31 million shares as on Mar 15, 2024, resulting in a short ratio of 7.23. According to the data, the short interest in ChargePoint Holdings Inc (CHPT) stood at 25.02% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 89.65 million. The stock has fallen by -22.22% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CHPT stock heading into the next quarter.
