Wall Street Analyst Initiated ChampionX Corporation [CHX]. What else is Wall St. saying

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ChampionX Corporation [NASDAQ: CHX] price surged by 0.96 percent to reach at $0.2. The company report on September 23, 2021 that ChampionX Announces Investment in PingThings, Inc.

ChampionX Corporation (“ChampionX” or the “Company”) (NASDAQ: CHX) announced the completion of an investment in PingThings, Inc., which has developed an advanced sensor AI platform that enables its customers to manage tremendous volumes of time series data at scale, helping achieve their system reliability, decarbonization and capital efficiency goals.


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“This investment in PingThings is consistent with our long-term strategic priority of accelerating digital revenue streams and expanding our digital offering to other industries by establishing relationships to leverage the digital ecosystem as we continue to evolve our portfolio for sustained growth through the energy transition,” said Sivasankaran “Soma” Somasundaram, President and Chief Executive Officer of ChampionX.

A sum of 1129160 shares traded at recent session while its average daily volume was at 1.12M shares. ChampionX Corporation shares reached a high of $21.91 and dropped to a low of $20.95 until finishing in the latest session at $20.98.

The one-year CHX stock forecast points to a potential upside of 26.23. The average equity rating for CHX stock is currently 1.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on ChampionX Corporation [CHX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHX shares is $28.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHX stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for ChampionX Corporation shares, keeping their opinion on the stock as Sell, with their previous recommendation back on September 17, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $22 to $26. The new note on the price target was released on February 25, 2021, representing the official price target for ChampionX Corporation stock. Previously, the target price had yet another raise to $21, while Goldman analysts kept a Buy rating on CHX stock. On October 30, 2020, analysts increased their price target for CHX shares from 13 to 18.

The Average True Range (ATR) for ChampionX Corporation is set at 1.11, with the Price to Sales ratio for CHX stock in the period of the last 12 months amounting to 1.66. The Price to Book ratio for the last quarter was 2.52, with the Price to Cash per share for the same quarter was set at 1.09. Price to Free Cash Flow for CHX in the course of the last twelve months was 14.73 with Quick ratio for the last quarter at 1.30.

CHX Stock Performance Analysis:

ChampionX Corporation [CHX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.61. With this latest performance, CHX shares dropped by -6.59% in over the last four-week period, additionally sinking by -0.10% over the last 6 months – not to mention a rise of 137.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHX stock in for the last two-week period is set at 39.73, with the RSI for the last a single of trading hit 36.10, and the three-weeks RSI is set at 41.94 for ChampionX Corporation [CHX]. The present Moving Average for the last 50 days of trading for this stock 22.61, while it was recorded at 21.50 for the last single week of trading, and 21.52 for the last 200 days.

Insight into ChampionX Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ChampionX Corporation [CHX] shares currently have an operating margin of +1.61 and a Gross Margin at +22.28. ChampionX Corporation’s Net Margin is presently recorded at -39.15.

Return on Total Capital for CHX is now 1.43, given the latest momentum, and Return on Invested Capital for the company is -35.16. Return on Equity for this stock declined to -55.96, with Return on Assets sitting at -27.46. When it comes to the capital structure of this company, ChampionX Corporation [CHX] has a Total Debt to Total Equity ratio set at 65.06. Additionally, CHX Total Debt to Total Capital is recorded at 39.42, with Total Debt to Total Assets ending up at 30.44. Long-Term Debt to Equity for the company is recorded at 61.10, with the Long-Term Debt to Total Capital now at 37.02.

Reflecting on the efficiency of the workforce at the company, ChampionX Corporation [CHX] managed to generate an average of -$112,717 per employee. Receivables Turnover for the company is 4.87 with a Total Asset Turnover recorded at a value of 0.70.ChampionX Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.00.

CHX Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ChampionX Corporation go to -5.94%.

ChampionX Corporation [CHX] Insider Position Details

There are presently around $4,116 million, or 97.60% of CHX stock, in the hands of institutional investors. The top three institutional holders of CHX stocks are: BLACKROCK INC. with ownership of 23,834,344, which is approximately 1.243% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 19,552,158 shares of the stock with an approximate value of $410.2 million in CHX stocks shares; and BOSTON PARTNERS, currently with $233.72 million in CHX stock with ownership of nearly 1.098% of the company’s market capitalization.

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Positions in ChampionX Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 139 institutional holders increased their position in ChampionX Corporation [NASDAQ:CHX] by around 16,832,600 shares. Additionally, 139 investors decreased positions by around 16,385,790 shares, while 65 investors held positions by with 162,974,360 shares. The mentioned changes placed institutional holdings at 196,192,750 shares, according to the latest SEC report filing. CHX stock had 42 new institutional investments in for a total of 1,431,324 shares, while 31 institutional investors sold positions of 2,442,489 shares during the same period.

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