Invesco Ltd. Sells 288,193 Shares of EVgo, Inc. (NASDAQ:EVGO)

Invesco Ltd. reduced its holdings in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,310,323 shares of the company's stock after selling 288,193 shares during the quarter. Invesco Ltd. owned 0.43% of EVgo worth $5,307,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of EVgo by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company's stock worth $49,414,000 after purchasing an additional 2,043,449 shares in the last quarter. Quantbot Technologies LP bought a new position in EVgo during the 4th quarter valued at $523,000. JPMorgan Chase & Co. raised its stake in shares of EVgo by 93.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,213,688 shares of the company's stock worth $4,915,000 after buying an additional 586,108 shares in the last quarter. Geode Capital Management LLC raised its position in EVgo by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company's stock worth $10,020,000 after acquiring an additional 90,887 shares in the last quarter. Finally, Crescent Park Management L.P. bought a new stake in EVgo during the fourth quarter worth approximately $377,000. Institutional investors own 17.44% of the company's stock.

EVgo Stock Up 0.4 %

EVGO stock traded up $0.01 during midday trading on Tuesday, hitting $2.83. 1,449,581 shares of the company traded hands, compared to its average volume of 4,135,017. EVgo, Inc. has a twelve month low of $1.73 and a twelve month high of $9.07. The stock has a market capitalization of $866.89 million, a price-to-earnings ratio of -6.74 and a beta of 2.28. The business has a 50 day simple moving average of $2.62 and a 200-day simple moving average of $4.33.

EVgo (NASDAQ:EVGO - Get Free Report) last released its earnings results 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 firm had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. Equities research analysts forecast that EVgo, Inc. will post -0.45 EPS for the current year.

Insider Activity at EVgo

In other news, President Dennis G. Kish sold 44,184 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the sale, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. This trade represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 58.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group cut their target price on EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on EVgo from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 price objective on shares of EVgo in a report on Wednesday, March 5th. Finally, Stifel Nicolaus lowered their target price on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Two 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. Based on data from MarketBeat, EVgo has a consensus rating of "Buy" and an average target price of $5.78.

EVgo 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.