ChargePoint (NYSE: CHPT) stock is losing power on Tuesday and it has to do with a recent stock offering announcement. Source: YuniqueB / Shutterstock.com The drop comes after the company announced that certain shareholders are planning to launch a secondary stock offering.
Full Answer
What's happening with ChargePoint stock?
Even after a big down month in December, when the stock dropped about 25%, shares in ChargePoint continue to fall. As of Friday-morning trading, the stock has had another bad week, with shares down over 14% according to data provided by S&P Global Market Intelligence.
Will ChargePoint be profitable in 2026?
On Wall Street, most analysts seem to view this as a race between ChargePoint and Blink, with each company expected to turn profitable in 2026, and to earn similar levels of profit -- $0.17 per share for ChargePoint, versus $0.13 per share for Blink. (Volta isn't expected to turn profitable as far out as anyone is posting estimates.)
What does ChargePoint's secondary offering mean for investors?
The news comes just a few months after ChargePoint completed its merger with a special purpose acquisition company (SPAC). The secondary offering is being launched in order for existing shareholders, primarily early venture capital (VC) funds, to sell stock in an orderly fashion.
Is ChargePoint's deal a dilutive capital raise?
ChargePoint is not issuing any new shares and will not receive any of the proceeds from the deal; this is not a dilutive capital raise. Instead, existing shareholders are collectively selling 12 million shares of stock, while the underwriters have a greenshoe option for another 1.8 million shares. Image source: ChargePoint.
Why is ChargePoint stock dropping?
Earnings Fell Short. Shares of EV-charging company ChargePoint Holdings were falling Wednesday after it boosted revenue guidance but reported a fiscal third-quarter loss wider than a year earlier.
What's going on with ChargePoint?
(CHPT) Reports Q1 Loss, Tops Revenue Estimates. ChargePoint Holdings, Inc. (CHPT) delivered earnings and revenue surprises of -16.67% and 8.70%, respectively, for the quarter ended April 2022.
Is ChargePoint a buy today?
ChargePoint has received a consensus rating of Buy.
Is ChargePoint losing money?
A Dwindling Cash Balance Despite its lackluster bottom line, ChargePoint has developed aggressive expansion plans. Consequently, it has severely compromised its cash reserves. The company burnt through more than $100 million in just the past nine months.
Can I buy ChargePoint stock?
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What are analysts saying about ChargePoint?
Stock Price Forecast The 18 analysts offering 12-month price forecasts for ChargePoint Holdings Inc have a median target of 21.50, with a high estimate of 46.00 and a low estimate of 12.00. The median estimate represents a +47.36% increase from the last price of 14.59.
Does Tesla work with ChargePoint?
Yes, all Tesla vehicles can charge at a ChargePoint station. Tesla vehicles use a different charger than the standard plugs at ChargePoint, so you'll need an adapter. For standard charging, you can use the adapter that came with the vehicle if you still have it. But for fast charging, you'll need a CHAdeMO adapter.
Is ChargePoint a good company?
As a leading EV charging company, ChargePoint is among the most well-placed to benefit from the ongoing growth in EVs. However, it faces some serious risks. The company isn't profitable yet, and its profitability depends on the success of its growth plan.
Is ChargePoint a buy Zacks?
When evaluating a stock, it can be useful to compare it to its industry as a point of reference. The VGM Score are a complementary set of indicators to use alongside the Zacks Rank....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return1Strong Buy25.08%2Buy18.56%3Hold10.15%4Sell5.79%2 more rows
Will ChargePoint stock go up?
ChargePoint will report Q4 2021 earnings on March 2nd and provide forward guidance for 2022. EV sales exploded in 2021 with signs pointing towards more industry growth in 2022. CHPT stock has fallen near pre-SPAC IPO levels and now is a good chance to buy the dip while there is fear surrounding high growth stocks.
Does ChargePoint make profit?
Can ChargePoint become profitable? The issue with ChargePoint, like other EV charging companies, is that while its revenue is growing, its losses are also mounting. In the third quarter, ChargePoint generated revenue of $65 million. Its net loss for the quarter stood at a loss of $69 million.
Who invested in ChargePoint?
(NYSE: CHPT), a leading electric vehicle (EV) charging network, today announced the closing of its previously announced $300 million investment by funds managed or advised by Antara Capital LP in ChargePoint through the purchase of convertible senior notes (the “Notes”) to support ChargePoint's growth initiatives.