Quantbot Technologies LP bought a new stake in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 129,095 shares of the company's stock, valued at approximately $523,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Blueshift Asset Management LLC grew its position in shares of EVgo by 129.4% during the 4th quarter. Blueshift Asset Management LLC now owns 44,591 shares of the company's stock valued at $181,000 after buying an additional 25,157 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of EVgo by 29.9% during the fourth quarter. Intech Investment Management LLC now owns 49,462 shares of the company's stock valued at $200,000 after purchasing an additional 11,389 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of EVgo during the 4th quarter worth approximately $2,321,000. Swiss National Bank bought a new stake in shares of EVgo in the 4th quarter worth approximately $983,000. Finally, Amundi acquired a new position in EVgo during the 4th quarter valued at approximately $113,000. 17.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. 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 research report on Wednesday, March 12th. Evercore ISI dropped their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a report on Monday. 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. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 price objective on shares of EVgo in a research report on Wednesday, March 5th. Two investment 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, EVgo has an average rating of "Buy" and a consensus price target of $5.78.
View Our Latest Stock Report on EVgo
Insider Activity
In related news, President Dennis G. Kish sold 44,184 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the sale, the president now directly owns 95,986 shares of the company's stock, valued at $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 66.96% of the company's stock.
EVgo Stock Up 1.9 %
EVGO traded up $0.05 during trading on Tuesday, reaching $2.71. The stock had a trading volume of 2,336,517 shares, compared to its average volume of 4,410,498. The stock has a 50 day moving average of $2.88 and a two-hundred day moving average of $4.70. The firm has a market capitalization of $830.14 million, a price-to-earnings ratio of -6.45 and a beta of 2.37. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07.
EVgo (NASDAQ:EVGO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The firm had revenue of $67.51 million during the quarter, compared to analyst estimates of $69.49 million. On average, research analysts forecast that EVgo, Inc. will post -0.45 EPS for the current fiscal 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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