Streetbeat News

CHPT

ChargePoint Holdings, Inc.

https://www.chargepoint.com

Industry

Specialty Retail

ChargePoint Holdings, Inc. provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

Open

1.22

Mkt cap

492M

Volume

High

1.23

P/E Ratio

-1.18

52-wk high

3.54

Low

1.14

Div yield

N/A

52-wk low

1.14

ChargePoint Holdings Inc's shares are trading lower by 3.28% after the company announced it has secured a commitment from institutional investors, including the lead investor of their $300 million convertible notes issued in April 2022. The company is raising funds through an 'at-the-market' offering and a $150 million revolving credit facility to achieve adjusted EBITDA profitability by the fourth fiscal quarter of the following year. ChargePoint also plans to modify the terms of their notes with the lead investor, extending the maturity date to April 1, 2028, and adjusting the conversion price to $12.00 per share.

Portfolio Pulse from Henry Khederian

October 12, 2023 | 2:33 pm

During Wednesday's intraday session, several industrial stocks experienced significant movement. Gainers included voxeljet (VJET), Gaucho Group Holdings (VINO), Energy Focus (EFOI), CEA Industries (CEAD), TD Hldgs (GLG), and Erayak Power Solution Gr (RAYA). Losers included Hyliion Holdings (HYLN), Astra Space (ASTR), ChargePoint Hldgs (CHPT), Tritium DCFC (DCFC), Turbo Energy (TURB), and Tigo Energy (TYGO).

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 5:31 pm

ChargePoint Holdings Inc (NYSE:CHPT) shares are trading lower by 8.1% after the company announced it has secured a commitment from institutional investors to purchase $175 million of common stock. The company also raised $57 million in net proceeds in Q3 2024 and announced a $150 million revolving credit facility. ChargePoint plans to modify the terms of the Notes to extend the maturity date to April 1, 2028, increase the cash coupon to 7% per year, and adjust the conversion price to $12.00 per share.

Portfolio Pulse from Henry Khederian

October 11, 2023 | 2:36 pm

ChargePoint has raised $232 million to support its path to profitability in 2024. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 2:36 pm

ChargePoint has raised $232M to support its path to profitability in 2024. This includes $175M of new equity committed by institutional investors via the company's 'at-the-market' offering facility and $57M of new equity raised in Q3 of FY2024 via the ATM. The terms of outstanding $300M convertible notes have also been adjusted.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:32 pm

ChargePoint Holdings, Inc. (NYSE:CHPT) shares are trading lower, down nearly 40% over the last month. Needham analyst Chris Pierce reiterated a Buy rating for ChargePoint but lowered the price target from $9 to $8. The stock is also being affected by Tesla's lower than expected third-quarter delivery numbers. ChargePoint shares are down nearly 5% at $4.52.

Portfolio Pulse from Erica Kollmann

October 03, 2023 | 3:12 pm

Several analyst forecasts were released on Tuesday, with notable changes in price targets for multiple companies. Keybanc raised the price target for NVIDIA Corporation (NVDA) from $670 to $750, while Goldman Sachs increased Reynolds Consumer Products Inc. (REYN) price target from $28 to $30. Other companies affected include Synaptics Incorporated (SYNA), Wingstop Inc. (WING), Emerson Electric Co. (EMR), SunPower Corporation (SPWR), Warner Music Group Corp. (WMG), Service Corporation International (SCI), Eastman Chemical Company (EMN), Delta Air Lines, Inc. (DAL), and ChargePoint Holdings, Inc. (CHPT).

Portfolio Pulse from Lisa Levin

October 03, 2023 | 12:07 pm

Needham analyst Chris Pierce has reiterated a 'Buy' rating on ChargePoint Holdings (NYSE:CHPT), but lowered the price target from $9 to $8.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:45 am

The US stock market is showing signs of nervousness ahead of key economic data releases and speeches by Federal Reserve officials. The 10-year Treasury yield continues to rise, potentially pressuring stocks. The Dow Industrials ended down for a second straight day, while the Nasdaq Composite and the Dow Industrials rebounded from Tuesday’s sharp declines. Fund manager Louis Navellier recommends investing in fundamentally sound stocks amidst the uncertainties. He expects another round of big earnings surprises. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged up 0.08% and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.05%. Stocks in focus include Peloton Interactive, Inc. (NASDAQ:PTON), Workday, Inc. (NASDAQ:WDAY), Micron Technology, Inc. (NASDAQ:MU), GameStop Corp. (NYSE:GME), Accenture plc (NYSE:ACN), CarMax, Inc. (NYSE:KMX), and Jabil, Inc. (NYSE:JBL).

Portfolio Pulse from Shanthi Rexaline

September 28, 2023 | 10:59 am

ChargePoint Holdings Inc (CHPT) shares are trading higher after UBS initiated coverage on the stock with a Buy rating and a $9 price target. UBS highlighted CHPT's significant presence in Level 2 chargers in North America, a deep customer base, and the expectation of reaching break-even EBITDA by fiscal fourth-quarter 2025. UBS also forecasts strong growth in EV charging demand, supported by EV adoption trends.

Portfolio Pulse from Henry Khederian

September 27, 2023 | 7:14 pm

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