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

Swiss National Bank purchased a new stake in shares of EVgo, Inc. (NASDAQ:EVGO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 242,600 shares of the company’s stock, valued at approximately $983,000. Swiss National Bank owned approximately 0.08% of EVgo at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Intech Investment Management LLC bought a new position in EVgo during the third quarter valued at about $158,000. Blueshift Asset Management LLC bought a new position in shares of EVgo in the 3rd quarter valued at approximately $80,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in EVgo by 9.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,945 shares of the company’s stock worth $509,000 after purchasing an additional 10,532 shares during the last quarter. Verition Fund Management LLC bought a new stake in EVgo during the third quarter worth approximately $653,000. Finally, Firsthand Capital Management Inc. grew its holdings in EVgo by 2,403.1% during the third quarter. Firsthand Capital Management Inc. now owns 40,000 shares of the company’s stock valued at $166,000 after purchasing an additional 38,402 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EVGO. JPMorgan Chase & Co. reduced their price objective on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price target on shares of EVgo in a report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. UBS Group lowered their target price on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Stifel Nicolaus cut their price target on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.11.

EVgo Price Performance

Shares of EVgo stock opened at $2.82 on Friday. EVgo, Inc. has a 52-week low of $1.65 and a 52-week high of $9.07. The firm has a market capitalization of $863.83 million, a PE ratio of -6.71 and a beta of 2.37. The company’s fifty day moving average price is $2.91 and its two-hundred day moving average price is $4.72.

EVgo (NASDAQ:EVGO) last posted its 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 business had revenue of $67.51 million during the quarter, compared to the consensus estimate of $69.49 million. Analysts predict that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at EVgo

In other news, President Dennis G. Kish sold 44,184 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the sale, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 66.96% of the company’s stock.

EVgo 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.