Hussman Strategic Advisors Inc. Takes $425,000 Position in EVgo, Inc. (NYSE:EVGO)

Hussman Strategic Advisors Inc. acquired a new stake in shares of EVgo, Inc. (NYSE:EVGO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 105,000 shares of the company's stock, valued at approximately $425,000.

A number of other institutional investors have also added to or reduced their stakes in EVGO. Creative Planning increased its holdings in EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company's stock worth $55,000 after acquiring an additional 3,297 shares during the period. International Assets Investment Management LLC purchased a new position in shares of EVgo during the 3rd quarter valued at $51,000. Legacy Capital Wealth Partners LLC increased its holdings in shares of EVgo by 31.8% in the third quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company's stock worth $60,000 after purchasing an additional 3,500 shares during the period. Intech Investment Management LLC purchased a new stake in shares of EVgo in the third quarter worth $158,000. Finally, DRW Securities LLC bought a new stake in EVgo during the third quarter valued at $114,000. Hedge funds and other institutional investors own 17.44% of the company's stock.

Insider Activity

In other EVgo news, President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $4.32, for a total value of $75,077.28. Following the completion of the sale, the president now owns 13,655 shares of the company's stock, valued at approximately $58,989.60. This trade represents a 56.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Nanus sold 23,000,000 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total value of $115,000,000.00. Following the transaction, the director now directly owns 5,882,352 shares in the company, valued at approximately $29,411,760. The trade was a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,061,563 shares of company stock worth $115,225,745 over the last three months. 66.96% of the stock is currently owned by corporate insiders.

EVgo Trading Up 0.9 %

NYSE:EVGO traded up $0.03 during trading hours on Tuesday, reaching $2.70. 1,813,413 shares of the company traded hands, compared to its average volume of 4,657,348. The business's 50-day moving average price is $3.64 and its two-hundred day moving average price is $4.96. EVgo, Inc. has a 1 year low of $1.65 and a 1 year high of $9.07. The stock has a market capitalization of $816.99 million, a P/E ratio of -6.42 and a beta of 2.32.

Wall Street Analysts Forecast Growth

EVGO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on EVgo from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 19th. UBS Group decreased their price objective on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Stifel Nicolaus raised their target price on shares of EVgo from $6.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a "hold" rating on shares of EVgo in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $6.11.

EVgo Company Profile

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.