KBC Group NV Cuts Stake in EVgo, Inc. (NYSE:EVGO)

KBC Group NV decreased its stake in EVgo, Inc. (NYSE:EVGO - Free Report) by 49.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,948 shares of the company's stock after selling 123,915 shares during the period. KBC Group NV's holdings in EVgo were worth $518,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Creative Planning boosted its holdings in shares of EVgo by 32.7% in the third quarter. Creative Planning now owns 13,365 shares of the company's stock valued at $55,000 after acquiring an additional 3,297 shares during the period. Legacy Capital Wealth Partners LLC boosted its stake in EVgo by 31.8% during the 3rd 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. Janus Henderson Group PLC grew its position in EVgo by 20.2% during the 3rd quarter. Janus Henderson Group PLC now owns 52,416 shares of the company's stock worth $217,000 after purchasing an additional 8,800 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in EVgo by 9.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,945 shares of the company's stock valued at $509,000 after purchasing an additional 10,532 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of EVgo during the third quarter worth about $51,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

EVgo Price Performance

Shares of EVGO stock traded down $0.02 during midday trading on Thursday, reaching $3.34. 1,964,635 shares of the company traded hands, compared to its average volume of 5,088,359. The firm has a market cap of $1.01 billion, a PE ratio of -7.95 and a beta of 2.32. The firm's 50 day simple moving average is $4.46 and its two-hundred day simple moving average is $5.01. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07.

EVgo (NYSE:EVGO - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). The business had revenue of $67.50 million during the quarter, compared to the consensus estimate of $66.52 million. The business's quarterly revenue was up 92.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS. As a group, research analysts anticipate that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Marathon Capitl raised EVgo from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on shares of EVgo from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Friday, December 20th. UBS Group reduced their target price on shares of EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Finally, Stifel Nicolaus boosted their price target on shares of EVgo from $6.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $6.22.

Insider Buying and Selling at EVgo

In related news, Director David Nanus sold 23,000,000 shares of EVgo stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the completion of the sale, the director now owns 5,882,352 shares in the company, valued at approximately $29,411,760. This trade represents a 79.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Badar Khan sold 166,725 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.14, for a total transaction of $856,966.50. Following the completion of the transaction, the chief executive officer now owns 348,761 shares in the company, valued at approximately $1,792,631.54. This trade represents a 32.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,228,288 shares of company stock worth $116,082,711. 66.96% of the stock is owned by corporate insiders.

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.