ChargePoint implements 1-for-20 reverse stock split to maintain NYSE listing

CAMPBELL, Calif. - ChargePoint Holdings, Inc. (NYSE:CHPT), an electric vehicle charging solutions provider, implemented a 1-for-20 reverse stock split today to increase its share price and maintain compliance with New York Stock Exchange (NYSE) minimum trading price requirements. The move comes as the company faces significant financial challenges, with InvestingPro data showing a concerning cash burn rate and revenue decline of 15.7% in the last twelve months.

The reverse split, which took effect at 12:01 a.m. Eastern Time on Monday, converts every twenty shares of ChargePoint common stock into one share. The company’s trading symbol remains "CHPT" with a new CUSIP number of 15961R 303. According to InvestingPro analysis, the stock has experienced significant volatility, with a 72% decline over the past year, though current valuations suggest the stock may be undervalued.

ChargePoint shareholders approved the reverse split at the company’s Annual Meeting on July 8, authorizing a ratio range between 1-for-2 and 1-for-30. The company’s Nominating and Corporate Governance Committee subsequently determined the final 1-for-20 ratio.

The company stated that the split will not modify any rights or preferences of its common stock and will not affect shareholders’ percentage ownership interests, except in cases resulting in fractional shares. Shareholders entitled to fractional shares will receive cash payments instead.

Shareholders holding shares through brokerage firms will have their positions automatically adjusted according to their brokers’ processes. Registered stockholders will receive information from Continental Stock Transfer & Trust Company regarding their post-split ownership.

ChargePoint, founded in 2007, provides charging solutions across North America and Europe with access to over 1.25 million charging ports worldwide. The information in this article is based on a press release statement from the company. InvestingPro analysis reveals the company maintains a current ratio of 1.82, indicating adequate short-term liquidity, though its overall financial health score remains weak. Discover 12 additional exclusive ProTips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.

In other recent news, ChargePoint Holdings Inc. announced a 1-for-20 reverse stock split to comply with the New York Stock Exchange’s minimum price requirement. This move follows a shareholder vote and aims to boost the stock’s market price per share. ChargePoint’s first-quarter fiscal year 2026 results revealed a revenue of $98 million, which represents a 9% decrease year-over-year and fell short of market expectations of $101 million. The company’s non-GAAP EBITDA loss was $22.8 million, exceeding the anticipated $18.6 million loss.

UBS maintained a Neutral rating on ChargePoint, with a price target of $0.65, citing a wider-than-expected adjusted EBITDA loss and lower revenue forecasts. Oppenheimer analysts reiterated a Perform rating, noting the company’s strategic partnership with Eaton, which could drive incremental sales growth. Meanwhile, Goldman Sachs upheld a Sell rating, maintaining a price target of $0.50, following the company’s disappointing financial results. ChargePoint’s guidance for the second quarter projects revenue between $90 million and $100 million, below Wall Street estimates of $108 million.

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