Barclays PLC Has $551,000 Stock Position in EVgo, Inc. (NYSE:EVGO)

Barclays PLC boosted its stake in shares of EVgo, Inc. (NYSE:EVGO) by 280.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,981 shares of the company’s stock after purchasing an additional 98,041 shares during the quarter. Barclays PLC’s holdings in EVgo were worth $551,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of EVgo by 25.3% during the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after purchasing an additional 847,777 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in EVgo during the second quarter worth $1,749,000. Marshall Wace LLP boosted its stake in EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock worth $4,002,000 after buying an additional 651,475 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in EVgo by 105.0% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock valued at $1,714,000 after buying an additional 212,004 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of EVgo in the 2nd quarter valued at $495,000. 17.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EVGO. TD Cowen raised shares of EVgo from a “hold” rating to a “buy” rating and upped their target price for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price objective on EVgo from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.00 to $8.50 in a report on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Thursday. Finally, Royal Bank of Canada upped their price target on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Two equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $6.61.

Insider Buying and Selling at EVgo

In other EVgo news, Director David Nanus sold 23,000,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total transaction of $115,000,000.00. Following the transaction, the director now owns 5,882,352 shares of the company’s stock, valued at approximately $29,411,760. This represents a 79.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badar Khan sold 166,725 shares of EVgo stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the completion of the sale, the chief executive officer now directly owns 348,761 shares of the company’s stock, valued at $1,792,631.54. This trade represents a 32.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,184,104 shares of company stock worth $115,932,044. 66.96% of the stock is currently owned by corporate insiders.

EVgo Price Performance

NYSE EVGO opened at $3.41 on Friday. The stock’s 50 day simple moving average is $5.15 and its 200 day simple moving average is $4.99. EVgo, Inc. has a one year low of $1.65 and a one year high of $9.07. The firm has a market cap of $1.03 billion, a PE ratio of -8.12 and a beta of 2.35.

EVgo (NYSE:EVGO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million during the quarter, compared to the consensus estimate of $66.52 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. The business’s revenue was up 92.3% on a year-over-year basis. As a group, equities analysts expect that EVgo, Inc. will post -0.45 earnings per share for the current year.

About EVgo

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.