Capital Advisors Wealth Management LLC Decreases Holdings in EVgo, Inc. (NYSE:EVGO)

Capital Advisors Wealth Management LLC trimmed its holdings in shares of EVgo, Inc. (NYSE:EVGO) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,194 shares of the company’s stock after selling 5,800 shares during the period. Capital Advisors Wealth Management LLC’s holdings in EVgo were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in EVgo in the 4th quarter valued at about $580,000. Wellington Management Group LLP boosted its position in EVgo by 323.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,724,042 shares of the company’s stock valued at $9,207,000 after buying an additional 2,080,839 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new position in EVgo in the 4th quarter valued at about $59,000. Handelsbanken Fonder AB purchased a new position in EVgo in the 4th quarter valued at about $121,000. Finally, Dark Forest Capital Management LP boosted its position in EVgo by 1,862.2% in the 3rd quarter. Dark Forest Capital Management LP now owns 244,722 shares of the company’s stock valued at $827,000 after buying an additional 232,250 shares during the last quarter. 17.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EVgo

In other news, CEO Badar Khan purchased 125,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were bought at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the completion of the purchase, the chief executive officer now owns 143,874 shares of the company’s stock, valued at $289,186.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 66.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EVGO shares. Citigroup decreased their price objective on shares of EVgo from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Evercore ISI reduced their price target on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Cantor Fitzgerald raised shares of EVgo from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $5.00 to $4.00 in a research report on Thursday, May 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $4.00 price target on shares of EVgo in a research report on Friday, April 5th. Finally, Benchmark began coverage on shares of EVgo in a research report on Wednesday, June 5th. They set a “buy” rating and a $3.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4.00.

EVgo Price Performance

EVGO opened at $2.31 on Wednesday. The firm has a market cap of $696.18 million, a price-to-earnings ratio of -6.07 and a beta of 2.54. EVgo, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $5.95. The company’s 50-day moving average price is $2.01 and its 200 day moving average price is $2.45.

EVgo (NYSE:EVGO) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $55.16 million for the quarter, compared to analyst estimates of $52.41 million. EVgo’s revenue was up 118.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS. Research analysts anticipate that EVgo, Inc. will post -0.38 earnings per share for the current year.

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.