What's Going On With ChargePoint Holdings Stock?

ChargePoint Holdings, Inc. CHPT shares are trading lower Tuesday, and the stock is down nearly 40% over the last month.

What To Know:

On Tuesday, Needham analyst Chris Pierce reiterated ChargePoint Holdings with a Buy rating and lowered the price target from $9 to $8.

Investors may also be considering third-quarter delivery numbers from Tesla TSLA which fell below expectations.

Shares of ChargePoint are moving lower on above-average trading volume with more than 4.6 million shares already traded in the session, compared to the stock's 100-day average volume of 10.332 million shares.

According to data from Benzinga Pro, 21.18% of CHPT shares are being sold short.

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CHPT Price Action: According to Benzinga Pro, ChargePoint Holdings shares are down nearly 5% at $4.52 at the time of publication.

Image: Lee Rosario from Pixabay