Swiss National Bank Makes New $983,000 Investment in EVgo, Inc. (NASDAQ:EVGO)

Swiss National Bank acquired a new position in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 242,600 shares of the company's stock, valued at approximately $983,000. Swiss National Bank owned approximately 0.08% of EVgo as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Clear Harbor Asset Management LLC purchased a new position in EVgo during the 4th quarter valued at about $72,000. Blueshift Asset Management LLC purchased a new position in EVgo during the third quarter valued at approximately $80,000. Raymond James Financial Inc. acquired a new position in EVgo in the 4th quarter valued at approximately $80,000. Paloma Partners Management Co purchased a new stake in EVgo in the 3rd quarter worth approximately $99,000. Finally, Amundi acquired a new stake in shares of EVgo during the 4th quarter valued at $113,000. Hedge funds and other institutional investors own 17.44% of the company's stock.

Insider Activity

In related news, President Dennis G. Kish sold 44,184 shares of the company's stock in a transaction 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 transaction, the president now directly owns 95,986 shares in the company, valued at $327,312.26. This represents a 31.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 66.96% of the stock is owned by company insiders.

Remove Ads

EVgo Trading Down 2.2 %

EVgo stock traded down $0.06 on Wednesday, reaching $2.65. 2,813,768 shares of the stock were exchanged, compared to its average volume of 4,384,791. EVgo, Inc. has a twelve month low of $1.65 and a twelve month high of $9.07. The firm has a fifty day moving average price of $2.87 and a two-hundred day moving average price of $4.69. The stock has a market cap of $811.76 million, a PE ratio of -6.31 and a beta of 2.37.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. The business had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. Equities analysts anticipate that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on EVgo from $6.00 to $5.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Needham & Company LLC reiterated a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. Stifel Nicolaus dropped their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Evercore ISI reduced their target price on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research note on Monday. Finally, UBS Group dropped their price target on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Two 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. Based on data from MarketBeat, EVgo presently has an average rating of "Buy" and an average price target of $5.78.

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.