Electric Vehicle Stock Secures Fresh Bullish Coverage

Short sellers have been hitting the exits in droves

Digital Content Manager
Oct 19, 2021 at 9:35 AM
facebook X logo linkedin


Electric vehicle (EV) concern ChargePoint Holdings Inc (NYSE:CHPT) is up 1.7% at $20.25 at last check, after Stifel initiated coverage of the security with a "buy" rating and a $29 price target. The analyst in question noted the company is "very well positioned" to benefit from growth in EV charging infrastructure in the coming 10-20 years. Separately, ChargePoint welcomed Lisa Mulrooney Gross to its leadership team as chief people officer.

The firm is joining an already bullish brokerage bunch. Coming into today, six of the eight analysts in coverage called the security a "buy" or better, while two said "hold." Plus, the 12-month consensus target price of $33.67 is a considerable 69.1% premium to its last close.

Short sellers have been hitting the exits in droves. Short interest fell 22.2% in the most recent reporting period, though the 17.41 million shares sold short still make up 10% of CHPT's available float.

ChargePoint stock has had a volatile year thus far, cooling from a June rally above the $36 mark over the last few months. More recently, the shares staged a bounce off the $17 level, though the 40-day moving average has been pressuring the equity lower since July. Year-to-date, CHPT has shed 50.3%.

It's worth noting the security has exceeded options traders' volatility expectations in the past year. This is per the stock's Schaeffer's Volatility Scorecard (SVS), which sits at 91 out of a possible 100.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI