Jump Financial LLC lessened its holdings in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 154,500 shares of the company's stock after selling 106,308 shares during the quarter. Jump Financial LLC owned 0.05% of EVgo worth $626,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Mariner LLC acquired a new stake in EVgo in the 4th quarter worth approximately $48,000. SCP Investment LP acquired a new stake in shares of EVgo during the fourth quarter worth $60,000. Clear Harbor Asset Management LLC purchased a new stake in shares of EVgo during the fourth quarter valued at $72,000. Polymer Capital Management US LLC acquired a new position in shares of EVgo in the 4th quarter valued at $73,000. Finally, Raymond James Financial Inc. purchased a new position in EVgo in the 4th quarter worth $80,000. Hedge funds and other institutional investors own 17.44% of the company's stock.
EVgo Stock Performance
Shares of NASDAQ:EVGO traded up $0.13 during midday trading on Friday, reaching $2.73. 2,652,918 shares of the company's stock traded hands, compared to its average volume of 4,195,210. The company has a fifty day simple moving average of $2.63 and a two-hundred day simple moving average of $4.38. EVgo, Inc. has a 1 year low of $1.72 and a 1 year high of $9.07. The company has a market cap of $836.26 million, a P/E ratio of -6.50 and a beta of 2.28.
EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.04. The company had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. As a group, research analysts forecast that EVgo, Inc. will post -0.45 EPS for the current fiscal year.
Insider Activity at EVgo
In other EVgo news, President Dennis G. Kish sold 44,184 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the transaction, the president now owns 95,986 shares of the company's stock, valued at $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 58.79% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
EVGO has been the topic of several research analyst reports. Stifel Nicolaus dropped their price target on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price target on shares of EVgo in a report on Wednesday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on EVgo from $6.00 to $5.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Finally, Evercore ISI lowered their price objective on EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $5.78.
Get Our Latest Research Report on EVGO
EVgo Profile
(
Free Report)
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.
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