Stifel Financial Corp Has $244,000 Stake in EVgo, Inc. (NYSE:EVGO)

Stifel Financial Corp lowered its holdings in EVgo, Inc. (NYSE:EVGO) by 30.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,827 shares of the company’s stock after selling 25,650 shares during the quarter. Stifel Financial Corp’s holdings in EVgo were worth $244,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in EVGO. Point72 Asset Management L.P. bought a new position in EVgo in the 2nd quarter worth approximately $1,749,000. Marshall Wace LLP raised its position in shares of 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 acquiring an additional 651,475 shares during the last quarter. SIR Capital Management L.P. lifted its stake in shares of EVgo by 76.9% during the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock valued at $2,349,000 after acquiring an additional 416,800 shares during the period. HITE Hedge Asset Management LLC increased its position in EVgo by 105.0% in 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 period. Finally, Squarepoint Ops LLC bought a new stake in EVgo during the 2nd quarter worth about $495,000. Institutional investors own 17.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. TD Cowen raised EVgo from a “hold” rating to a “buy” rating and upped their price target for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. UBS Group raised shares of EVgo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $8.50 in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of EVgo in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $6.61.

EVgo Stock Performance

Shares of EVgo stock opened at $4.20 on Monday. EVgo, Inc. has a 52-week low of $1.65 and a 52-week high of $9.07. The stock has a market cap of $1.27 billion, a PE ratio of -10.00 and a beta of 2.24. The firm has a 50-day moving average of $6.27 and a 200-day moving average of $4.82.

EVgo (NYSE:EVGO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million during the quarter, compared to the consensus estimate of $66.52 million. The business’s revenue for the quarter was up 92.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) EPS. Equities research analysts predict that EVgo, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at EVgo

In other EVgo news, CEO Badar Khan sold 166,725 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 348,761 shares in the company, valued at approximately $1,792,631.54. This represents a 32.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Nanus sold 23,000,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total value of $115,000,000.00. Following the completion of the sale, the director now owns 5,882,352 shares of the company’s stock, valued at $29,411,760. The trade was a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.