IQ EQ FUND MANAGEMENT IRELAND Ltd Acquires 152,436 Shares of EVgo, Inc. (NYSE:EVGO)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of EVgo, Inc. (NYSE:EVGO - Free Report) by 42.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 510,510 shares of the company's stock after acquiring an additional 152,436 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.17% of EVgo worth $1,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of EVgo by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company's stock valued at $160,000 after buying an additional 6,633 shares during the period. SG Americas Securities LLC boosted its stake in EVgo by 47.0% in the 2nd quarter. SG Americas Securities LLC now owns 24,049 shares of the company's stock worth $59,000 after purchasing an additional 7,687 shares during the period. Voisard Asset Management Group Inc. acquired a new position in EVgo in the 4th quarter worth $29,000. Atria Wealth Solutions Inc. boosted its stake in EVgo by 3.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 288,368 shares of the company's stock worth $1,032,000 after purchasing an additional 8,879 shares during the period. Finally, PFG Investments LLC boosted its stake in EVgo by 94.2% in the 1st quarter. PFG Investments LLC now owns 20,976 shares of the company's stock worth $53,000 after purchasing an additional 10,176 shares during the period. Institutional investors own 17.44% of the company's stock.

Insider Buying and Selling at EVgo

In other news, insider Francine Sullivan sold 12,584 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $45,302.40. Following the completion of the transaction, the insider now owns 117,327 shares of the company's stock, valued at $422,377.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Dennis G. Kish sold 16,414 shares of EVgo stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares of the company's stock, valued at $171,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the transaction, the insider now directly owns 117,327 shares of the company's stock, valued at approximately $422,377.20. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock worth $110,189 over the last quarter. Corporate insiders own 66.96% of the company's stock.

EVgo Stock Performance

Shares of NYSE EVGO traded up $0.35 during trading hours on Thursday, hitting $4.49. 3,254,671 shares of the stock were exchanged, compared to its average volume of 3,164,093. The company has a market cap of $1.36 billion, a PE ratio of -11.82 and a beta of 2.58. The company's fifty day simple moving average is $3.45 and its two-hundred day simple moving average is $2.65. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $4.70.

EVgo (NYSE:EVGO - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $66.62 million for the quarter, compared to analyst estimates of $59.40 million. The business's revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. As a group, sell-side analysts expect that EVgo, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EVGO shares. Benchmark increased their price objective on shares of EVgo from $3.00 to $5.00 and gave the stock a "buy" rating in a research note on Friday, July 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $5.00 target price on shares of EVgo in a report on Monday, August 19th. Evercore ISI dropped their target price on shares of EVgo from $8.00 to $7.00 and set an "outperform" rating on the stock in a report on Monday, May 13th. Finally, Stifel Nicolaus dropped their target price on shares of EVgo from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $4.63.

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.

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