23,993 Shares in EVgo Inc. (NASDAQ:EVGO) Acquired by Inspire Advisors LLC

Inspire Advisors LLC acquired a new stake in EVgo Inc. (NASDAQ:EVGO) in the 1st quarter, Holdings Channel.com reports. The fund acquired 23,993 shares of the company’s stock, valued at approximately $64,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in EVgo by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company’s stock valued at $49,414,000 after acquiring an additional 2,043,449 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in EVgo by 93.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,213,688 shares of the company’s stock valued at $4,915,000 after acquiring an additional 586,108 shares in the last quarter. J. Goldman & Co LP increased its stake in shares of EVgo by 59.9% in the 4th quarter. J. Goldman & Co LP now owns 2,221,877 shares of the company’s stock valued at $8,999,000 after purchasing an additional 832,397 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of EVgo by 175.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company’s stock valued at $20,046,000 after purchasing an additional 3,153,073 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of EVgo in the 4th quarter valued at $7,259,000. 17.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on EVGO. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of EVgo in a research note on Thursday, May 8th. Roth Capital reiterated a “buy” rating on shares of EVgo in a research note on Wednesday, May 7th. Finally, Morgan Stanley set a $4.00 price target on EVgo and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. Two 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.com, EVgo presently has an average rating of “Buy” and a consensus price target of $6.13.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 73,215 shares of EVgo stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $3.69, for a total transaction of $270,163.35. Following the transaction, the president directly owned 72,269 shares of the company’s stock, valued at approximately $266,672.61. The trade was a 50.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 58.79% of the company’s stock.

EVgo Stock Down 5.0%

Shares of EVGO stock opened at $3.41 on Wednesday. The firm has a market capitalization of $1.05 billion, a P/E ratio of -8.32 and a beta of 2.34. EVgo Inc. has a twelve month low of $2.19 and a twelve month high of $9.07. The stock’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $3.26.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $75.29 million for the quarter, compared to the consensus estimate of $70.11 million. The company’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) EPS. As a group, equities research analysts expect that EVgo Inc. will post -0.45 EPS for the current fiscal year.

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.