ChargePoint's falling stock price last month appears to have been driven by disappointment regarding the extent to which the company will benefit from the new U.S. infrastructure bill.
Full Answer
Why is ChargePoint stock falling?
· ChargePoint Holdings stock is now down roughly 39% year to date. What happened Shares of ChargePoint Holdings ( CHPT -8.80%) sank 31.9% in July, according to data from S&P Global Market...
What was it like to hold ChargePoint stock in Q4 2021?
· EV charging network company ChargePoint Holdings ( CHPT -8.80%) has pretty much fallen out of favor with investors. Even after a big down month in December, when the stock dropped about 25% ...
What drove ChargePoint holdings' sell-off in July?
· Owners of ChargePoint Holdings ( CHPT -3.26%) stock needed a strong stomach to end 2021. After a 24% gain to start the fourth quarter …
What does ChargePoint's secondary offering mean for investors?
· Shares of ChargePoint ( CHPT -11.40%) crashed today, down by 10% as of 3:30 p.m. EDT, after the company announced it is conducting a secondary offering. The news comes just a few months after ...
See more
· Why ChargePoint Stock Plunged Today. Contributor. ... Shares dropped 10% in early trading Wednesday, and as of 10:16 a.m. ET, they remained down more than 8%. With the company raising its fiscal ...
Why is ChargePoint Holdings dropping?
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.
Is ChargePoint holding a buy?
ChargePoint Holdings (NYSE: CHPT) could be one of the most electrifying stocks of 2022. That is, if we see further progress on electric vehicle (EV) charging stations.
Will ChargePoint ever be profitable?
ChargePoint isn't profitable yet The company doesn't expect to generate positive EBITDA until 2024. ChargePoint is focused on top-line growth at the moment. The company believes that as it builds a sizable customer base, it will be able to generate more high-margin recurring software revenue.
Who owns the most ChargePoint stock?
Our data shows that Linse Capital LLC is the largest shareholder with 21% of shares outstanding. For context, the second largest shareholder holds about 7.0% of the shares outstanding, followed by an ownership of 5.7% by the third-largest shareholder.
Is ChargePoint a buy 2022?
--(BUSINESS WIRE)-- ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging network, has been named to Fast Company's prestigious annual list of the World's Most Innovative Companies for 2022, ranking third among companies in North America.
Is ChargePoint stock forecast?
Stock Price Forecast The 18 analysts offering 12-month price forecasts for ChargePoint Holdings Inc have a median target of 24.50, with a high estimate of 46.00 and a low estimate of 16.00. The median estimate represents a +122.52% increase from the last price of 11.01.
Is ChargePoint overvalued?
ChargePoint (CHPT) and Blink (BLNK) are two EV charging companies that are not only significantly overvalued but have also lost more than 20% so far this year.
Is ChargePoint a good long term stock?
ChargePoint is well positioned for sustained growth in the next few years. The company has also been widening its product pipeline, which will support growth. In a December 2020 presentation, ChargePoint provided investors with a long-term revenue guidance.
What is the best EV charging company stock?
EV Charging Stocks to Buy NowWallbox NV (NYSE:WBX) Number of Hedge Fund Holders: N/A. ... Rivian Automotive, Inc. (NASDAQ:RIVN) ... Beam Global (NASDAQ:BEEM) Number of Hedge Fund Holders: 4. ... Blink Charging Co. (NASDAQ:BLNK) ... Volta Inc. (NYSE:VLTA)
Who invested in ChargePoint?
--(BUSINESS WIRE)-- ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging network, today announced that Antara Capital LP has agreed to make a $300 million investment in ChargePoint through the purchase of convertible senior notes to support ChargePoint's growth initiatives.
What mutual funds hold ChargePoint?
Largest shareholders include Linse Capital LLC, Vanguard Group Inc, Linse Capital Management PR LLC, BlackRock Inc., Canada Pension Plan Investment Board, SPT Invest Management Sarl, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, NAESX - Vanguard Small-Cap Index Fund Investor Shares, Baillie Gifford & ...
What is ChargePoint holding?
ChargePoint is a market leader and has helped pioneer networked fueling, offering one of the industry's most comprehensive portfolios of hardware, software and services for commercial, fleet and residential customers.
Investors are no longer patient with early-growth tech companies, especially in the electric vehicle sector
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.
Key Points
Hopes for growing future recurring revenue are being overshadowed by the macroeconomic environment.
What happened
EV charging network company ChargePoint Holdings ( NYSE:CHPT) has pretty much fallen out of favor with investors. Even after a big down month in December, when the stock dropped about 25%, shares in ChargePoint continue to fall.
So what
ChargePoint is a leading EV charging company in North America and is expanding in Europe. It has become one of the few EV companies going public through SPAC mergers to follow up with increasing revenue projections. The company has raised its calendar year 2021 annual revenue guidance in each of the past two quarterly reports.
Now what
This week's stock drop doesn't come with any current news from the company. ChargePoint provides electric fueling networks for commercial, fleet, and residential customers. It reported 79% year-over-year revenue growth in its recently reported fiscal 2022 third quarter, ended Oct. 31, 2021.
Holding ChargePoint stock was like riding a roller coaster in the fourth quarter of 2021
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.
What happened
Owners of ChargePoint Holdings ( NYSE:CHPT) stock needed a strong stomach to end 2021. After a 24% gain to start the fourth quarter in October, shares of the electric-vehicle (EV) charging network company ended the year with a 25.4% drop in December, according to data from S&P Global Market Intelligence.
So what
All the ups and downs came as a bipartisan infrastructure bill was being debated in Congress. The now-passed bill contains $7.5 billion allocated toward building out the country's EV charging infrastructure, as well as another $5 billion to replace municipal and school buses with zero-emission vehicles.
Now what
While the prospect of rising interest rates and growing competition in the EV space had investors rotating out of these names in December, ChargePoint did give investors some positive news during the month.
Who is Evan from ChargePoint?
ChargePoint launches a secondary offering a few months after closing its de-SPAC merger. Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
Is ChargePoint a dilutive capital raise?
Charge Point 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.
What happened
Electric vehicle (EV) charging network leader ChargePoint Holdings (NYSE: CHPT) reported its quarterly results last night, and the market is reacting negatively today. Shares dropped 10% in early trading Wednesday, and as of 10:16 a.m. ET, they remained down more than 8%.
So what
The boost in revenue guidance is the second one from the company this year, after going public through a merger with a special purpose acquisition company (SPAC) earlier in 2021. But investors appear to be reacting more to the net loss of $69.4 million the company reported.
Now what
Investors might be concerned about the company's path to profitability due to competition and uncertainty about how the EV sector will evolve. But ChargePoint reported its gross margin increased 500 basis points year over year to 25%, while revenue grew 79%.
The Motley Fool
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community.
Who is the CEO of ChargePoint?
ChargePoint president and CEO Pasquale Romano said in a statement that his company's prospects are "bolstered by policy trends that continued to accelerate the shift to electric in North America and Europe.".
Is ChargePoint a public company?
Electric vehicle charging network company ChargePoint Holdings ( NYSE:CHPT) reported its first quarterly earnings as a public company last night. Friday morning, its shares were down 9% as of 10:15 a.m. EST.
What is chargepoint charging?
ChargePoint is among the largest EV charging networks in North America and Europe. The company also offers DCFC. It has over 5,000 customers in the commercial and fleet market, which includes almost two-thirds of Fortune 50 customers. The company has over 70 percent market share in the networked level 2 charging in North America which is over 7x its next competitor.
Why did CHPT stock fall?
Looking at the long-term picture, the fall in CHPT stock is due to a sell-off in all green economy stocks. Markets got a little too excited about the sector's prospects, which led to sky-high valuations. Now, the stocks have fallen and look much more reasonably valued than they did at the peak.
Why did Virgin Galactic stock tumble?
Even Virgin Galactic stock tumbled after Chamath Palihapitiya sold the shares that he was holding in a personal capacity.
