Prescott Group Capital Management L.L.C. purchased a new stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 144,306 shares of the company's stock, valued at approximately $584,000.
Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in EVgo during the third quarter valued at approximately $51,000. Creative Planning lifted its holdings in shares of EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company's stock valued at $55,000 after purchasing an additional 3,297 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its position in shares of EVgo by 31.8% in 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 in the last quarter. Clear Harbor Asset Management LLC purchased a new position in EVgo during the 4th quarter worth $72,000. Finally, Blueshift Asset Management LLC acquired a new position in EVgo during the 3rd quarter valued at about $80,000. 17.44% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on EVGO shares. Stifel Nicolaus lowered their price target on EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a report on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on shares of EVgo from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Finally, UBS Group dropped their price objective on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Monday, January 27th. 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's stock. According to data from MarketBeat, EVgo presently has an average rating of "Buy" and an average price target of $6.22.
Check Out Our Latest Stock Report on EVGO
Insider Activity
In other EVgo news, Director David Nanus sold 23,000,000 shares of EVgo 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 completion of the transaction, the director now owns 5,882,352 shares of the company's stock, valued at approximately $29,411,760. The trade was a 79.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Dennis G. Kish sold 17,379 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $4.32, for a total transaction of $75,077.28. Following the sale, the president now directly owns 13,655 shares in the company, valued at approximately $58,989.60. The trade was a 56.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,061,563 shares of company stock valued at $115,225,745 in the last three months. 66.96% of the stock is currently owned by corporate insiders.
EVgo Trading Down 5.4 %
Shares of NASDAQ EVGO traded down $0.14 during trading on Monday, reaching $2.44. 5,484,951 shares of the company traded hands, compared to its average volume of 4,610,885. The stock has a market cap of $739.69 million, a P/E ratio of -5.81 and a beta of 2.37. The firm's fifty day simple moving average is $3.29 and its 200 day simple moving average is $4.88. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07.
EVgo (NASDAQ:EVGO - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate 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 expect that EVgo, Inc. will post -0.45 EPS for the current year.
About EVgo
(
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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