Crescent Park Management L.P. Takes $377,000 Position in EVgo, Inc. (NASDAQ:EVGO)

Crescent Park Management L.P. acquired a new stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 93,000 shares of the company's stock, valued at approximately $377,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EVGO. SCP Investment LP purchased a new stake in EVgo in the fourth quarter valued at $60,000. Clear Harbor Asset Management LLC acquired a new position in shares of EVgo in the 4th quarter valued at about $72,000. Raymond James Financial Inc. purchased a new stake in shares of EVgo in the fourth quarter worth about $80,000. Paloma Partners Management Co acquired a new stake in EVgo during the third quarter worth about $99,000. Finally, Virtu Financial LLC purchased a new position in EVgo during the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 17.44% of the company's stock.

Insider Activity

In other EVgo news, President Dennis G. Kish sold 44,184 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the sale, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. This represents a 31.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 66.96% of the company's stock.

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EVgo Price Performance

EVgo stock traded up $0.02 during midday trading on Friday, reaching $2.57. The company had a trading volume of 4,833,584 shares, compared to its average volume of 4,410,470. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07. The firm's fifty day simple moving average is $2.85 and its 200-day simple moving average is $4.66. The company has a market capitalization of $787.25 million, a P/E ratio of -6.12 and a beta of 2.37.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million during the quarter, compared to analyst estimates of $69.49 million. On average, analysts expect that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EVGO has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Evercore ISI decreased their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research report on Monday. UBS Group lowered their target price on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. cut their price target on EVgo from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, EVgo presently has a consensus rating of "Buy" and an average price target of $5.78.

About EVgo

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.