33,700 Shares in EVgo, Inc. (NYSE:EVGO) Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB bought a new stake in shares of EVgo, Inc. (NYSE:EVGO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 33,700 shares of the company’s stock, valued at approximately $121,000.

A number of other large investors also recently added to or reduced their stakes in EVGO. Bank of New York Mellon Corp raised its stake in shares of EVgo by 47.8% during the third quarter. Bank of New York Mellon Corp now owns 330,856 shares of the company’s stock worth $1,118,000 after buying an additional 107,029 shares during the last quarter. Verdence Capital Advisors LLC bought a new position in shares of EVgo in the 3rd quarter worth $34,000. Fifth Third Bancorp acquired a new stake in shares of EVgo during the third quarter worth $347,000. SCP Investment LP increased its holdings in EVgo by 180.0% in the third quarter. SCP Investment LP now owns 28,000 shares of the company’s stock valued at $95,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in EVgo in the third quarter valued at about $47,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Performance

Shares of EVGO opened at $1.99 on Friday. The firm has a market cap of $600.02 million, a P/E ratio of -4.04 and a beta of 2.53. EVgo, Inc. has a twelve month low of $1.65 and a twelve month high of $6.48. The firm’s 50 day moving average price is $2.29 and its two-hundred day moving average price is $2.63.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company had revenue of $50.00 million during the quarter, compared to the consensus estimate of $44.39 million. The company’s revenue was up 83.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. On average, sell-side analysts anticipate that EVgo, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on EVGO. Royal Bank of Canada restated an “outperform” rating and set a $4.00 target price on shares of EVgo in a research report on Friday, April 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $5.00 target price on shares of EVgo in a research note on Thursday, March 7th. Finally, Evercore ISI reduced their price target on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.19.

Insider Transactions at EVgo

In other EVgo news, President Dennis G. Kish sold 34,717 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $104,151.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Olga Shevorenkova sold 19,363 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $58,089.00. Following the completion of the transaction, the chief financial officer now directly owns 81,991 shares in the company, valued at approximately $245,973. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Dennis G. Kish sold 34,717 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The disclosure for this sale can be found here. Insiders sold 56,230 shares of company stock valued at $167,409 over the last three months. Company 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.