Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Position in EVgo, Inc. (NYSE:EVGO)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in EVgo, Inc. (NYSE:EVGO) by 14.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,413 shares of the company’s stock after selling 19,333 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in EVgo were worth $275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Capital Wealth Partners LLC purchased a new position in EVgo during the 2nd quarter valued at about $27,000. Voisard Asset Management Group Inc. bought a new position in shares of EVgo in the fourth quarter valued at approximately $29,000. Bleakley Financial Group LLC purchased a new position in EVgo during the first quarter valued at approximately $36,000. SG Americas Securities LLC bought a new stake in EVgo during the 1st quarter worth approximately $41,000. Finally, Point72 DIFC Ltd purchased a new stake in EVgo in the 2nd quarter worth approximately $45,000. 17.44% of the stock is currently owned by institutional investors.

EVgo Trading Down 3.8 %

Shares of NYSE:EVGO opened at $6.67 on Wednesday. The stock has a market capitalization of $2.01 billion, a P/E ratio of -17.55 and a beta of 2.58. The stock’s 50-day moving average price is $4.25 and its 200-day moving average price is $3.04. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $7.69.

EVgo (NYSE:EVGO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. EVgo’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. As a group, research analysts predict that EVgo, Inc. will post -0.4 EPS for the current year.

Insider Activity at EVgo

In other EVgo news, insider Francine Sullivan sold 12,584 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the sale, the insider now owns 117,327 shares of the company’s stock, valued at $422,377.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other EVgo news, insider Francine Sullivan sold 12,584 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $45,302.40. Following the completion of the transaction, the insider now owns 117,327 shares of the company’s stock, valued at $422,377.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the completion of the sale, the president now owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 66.96% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EVGO has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of EVgo in a research report on Monday, September 30th. Stifel Nicolaus decreased their target price on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price objective for the company in a report on Thursday, October 3rd. Finally, Benchmark raised their target price on shares of EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.22.

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.