EVgo, Inc. (NASDAQ:EVGO) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in EVgo, Inc. (NASDAQ:EVGO) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,541 shares of the company’s stock after purchasing an additional 4,622 shares during the quarter. Rhumbline Advisers’ holdings in EVgo were worth $602,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake 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 valued at $17,358,000 after acquiring an additional 847,777 shares during the last quarter. Geode Capital Management LLC grew its holdings in EVgo by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock valued at $10,020,000 after purchasing an additional 90,887 shares during the period. HITE Hedge Asset Management LLC increased its position in EVgo by 105.0% during the third quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock worth $1,714,000 after purchasing an additional 212,004 shares during the last quarter. Verition Fund Management LLC purchased a new position in EVgo during the third quarter worth approximately $653,000. Finally, Barclays PLC raised its stake in EVgo by 280.6% during the third quarter. Barclays PLC now owns 132,981 shares of the company’s stock worth $551,000 after purchasing an additional 98,041 shares during the period. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EVGO shares. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price objective on shares of EVgo in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. UBS Group reduced their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday. Two 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $6.22.

EVgo Stock Up 2.8 %

Shares of NASDAQ:EVGO opened at $2.58 on Friday. The company has a market capitalization of $782.13 million, a price-to-earnings ratio of -6.14 and a beta of 2.37. The company has a 50 day moving average of $3.36 and a two-hundred day moving average of $4.88. EVgo, Inc. has a 52-week low of $1.65 and a 52-week high of $9.07.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. On average, equities analysts anticipate that EVgo, Inc. will post -0.45 earnings per share for the current year.

Insider Activity

In related news, Director David Nanus sold 23,000,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was 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. This represents a 79.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Dennis G. Kish sold 17,379 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $4.32, for a total value of $75,077.28. Following the sale, the president now owns 13,655 shares of the company’s stock, valued at approximately $58,989.60. This trade represents a 56.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,061,563 shares of company stock worth $115,225,745 over the last ninety days. Corporate insiders own 66.96% of the company’s stock.

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.