News

On August 21, 2023, Arena Investors LP, a New York-based investment firm, significantly increased its stake in Charge Enterprises Inc (NASDAQ:CRGE), a leading provider of electrical, broadband, and electric vehicle (EV) charging infrastructure services. The transaction saw Arena Investors LP acquire 9,971,811 shares of Charge Enterprises Inc at a trade price of {TRESC}.6348 per share, resulting in a 6.71% impact on the firm’s portfolio. With this purchase, Arena Investors LP now holds a total of 21,574,039 shares, representing 14.52% of its portfolio and making the firm a significant stakeholder with a 9.99% holding in the company.

Arena Investors LP, located at 405 Lexington Avenue, New York, is an investment firm with a portfolio of 58 stocks and a total equity of million. Its top holdings include Horizon Therapeutics PLC (NASDAQ:HZNP), Charge Enterprises Inc (NASDAQ:CRGE), Apollo Strategic Growth Capital II (NYSE:APGB), DP Cap Acquisition Corp I (NASDAQ:DPCS), and Capitalworks Emerging Markets Acquisition Corp (NASDAQ:CMCA). The firm’s investment philosophy primarily focuses on the Financial Services and Communication Services sectors.

Charge Enterprises Inc, listed under the symbol CRGE, is a US-based company that provides end-to-end project management services in the electrical, broadband, and EV charging infrastructure sectors. The company operates in two segments: Infrastructure and Telecommunications, with the latter generating the majority of its revenue. As of August 21, 2023, Charge Enterprises Inc has a market capitalization of 8.989 million and a stock price of {TRESC}.6.

However, Charge Enterprises Inc’s stock performance has been underwhelming. With a year-to-date price change ratio of -48.28% and a price change ratio of -86.96% since its IPO on November 2, 2005, the company is operating at a loss, and its future performance potential is considered poor. Its Financial Strength is ranked 5/10, while its Profitability Rank and Growth Rank are 1/10 and 0/10, respectively.

In terms of financial indicators, Charge Enterprises Inc’s stock has an Altman Z score of 2.71, indicating a relatively stable financial position. The company also has a cash to debt ratio of 2.08, ranking it 100 in its industry. However, its ROE and ROA are -38.29 and -8.29, respectively, placing it lower in the industry rankings.

In conclusion, while Arena Investors LP’s increased stake in Charge Enterprises Inc demonstrates confidence in the company, it is important to consider the company’s underperforming stock and financial indicators. Value investors should carefully analyze these factors before making investment decisions.

The post Arena Investors LP Increases Stake in Charge Enterprises Inc appeared first on ISP Today.