Shares of ChargePoint Holdings, Inc. (CHPT) were trading lower on Friday after the company announced a partnership with Powers Parts to enhance fast-charging solutions for transit operators.
This news comes amid a bullish market backdrop, with the S&P 500 up 0.27% and the Nasdaq gaining 0.31%, indicating that ChargePoint's decline is somewhat isolated and may reflect company-specific challenges rather than broader market trends.
ChargePoint and Powers Parts aim to streamline the procurement and deployment of electric vehicle charging infrastructure for transit agencies operating E2 and ZX5 Phoenix EV buses. This partnership is expected to provide a more comprehensive operational support ecosystem, addressing critical supply chain and service challenges in the electric transit sector.
“Our partnership with Powers Parts expands our reach across the transit ecosystem, connecting their proven relationships with our scalable charging and telematics solutions,” said CEO Rick Wilmer.
Technical Analysis
ChargePoint's stock has been under pressure, currently trading at $7.47, which is 7.4% below its 200-day simple moving average (SMA) of $8.07. The stock is, however, 13.2% above its 20-day SMA of $6.61, indicating some short-term strength despite the overall downtrend. The relative strength index (RSI) is at 71.14, suggesting that the stock is currently in overbought territory, which could indicate a potential pullback or consolidation phase ahead.
Moving Averages and Momentum
The 50-day SMA is at $6.05, and the 100-day SMA is at $6.16, both of which are below the current price, reinforcing the short-term bullish sentiment. However, the 50-day SMA is below the 200-day SMA, indicating a bearish long-term trend. The RSI's overbought reading suggests that the stock may be due for a correction, especially if broader market conditions shift.
ChargePoint's partnership with Powers Parts is significant as it expands ChargePoint's reach within the transit sector, which is critical for the broader electrification of transportation.
Earnings & Analyst Outlook
The countdown is on: ChargePoint is set to report earnings on June 3, 2026.
- EPS Estimate: -$1.18 cents (Up from -$1.20)
- Revenue Estimate: $95.65 million (Down from $97.64 million)
Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price target of $7.17. Recent analyst moves include:
- UBS: Neutral (Lowers Target to $7.00) (March 16)
- B. Riley Securities: Neutral (Lowers Target to $6.00) (March 13)
- JP Morgan: Underweight (Lowers Target to $5.00) (March 5)
MarketDash Edge Rankings
Below is the MarketDash Edge scorecard for ChargePoint Holdings, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Weak (Score: 14.29) — Stock is underperforming the broader market.
The Verdict: ChargePoint's MarketDash Edge signal reveals a weak profile, indicating challenges in maintaining momentum in a competitive market. Investors should remain cautious as the stock navigates both technical pressures and upcoming earnings expectations.
Top ETF Exposure
- SPDR S&P Kensho Intelligent Structures ETF (SIMS): 3.13% Weight
- WisdomTree Battery Value Chain and Innovation Fund (WBAT): 3.87% Weight
Significance: Because CHPT carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
Price Action
CHPT Stock Price Activity: ChargePoint shares were down 3.85% at $7.50 at the time of publication on Friday, according to market data.
