PFG Investments LLC Sells 9,394 Shares of EVgo, Inc. (NYSE:EVGO)

PFG Investments LLC trimmed its holdings in shares of EVgo, Inc. (NYSE:EVGO) by 44.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,582 shares of the company’s stock after selling 9,394 shares during the quarter. PFG Investments LLC’s holdings in EVgo were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in EVGO. Legacy Capital Wealth Partners LLC bought a new stake in EVgo during the second quarter valued at approximately $27,000. Voisard Asset Management Group Inc. bought a new stake in EVgo during the fourth quarter valued at approximately $29,000. Simplicity Wealth LLC bought a new stake in EVgo during the first quarter valued at approximately $36,000. Bleakley Financial Group LLC bought a new stake in EVgo during the first quarter valued at approximately $36,000. Finally, SG Americas Securities LLC bought a new stake in EVgo during the first quarter valued at approximately $41,000. 17.44% of the stock is currently owned by institutional investors.

Insider Transactions at EVgo

In other 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 sale, the insider now directly owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 sale, the insider now directly owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Dennis G. Kish sold 16,414 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $59,090.40. Following the sale, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock valued at $110,189 in the last ninety days. Corporate insiders own 66.96% of the company’s stock.

Analysts Set New Price Targets

EVGO has been the topic of several analyst reports. UBS Group initiated coverage on shares of EVgo in a report on Monday, July 22nd. They set a “neutral” rating and a $4.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price target on shares of EVgo in a report on Monday, September 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Thursday, August 29th. Stifel Nicolaus lowered their price target on shares of EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Benchmark lifted their price target on shares of EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.63.

EVgo Trading Up 1.4 %

Shares of EVgo stock opened at $4.48 on Friday. The firm has a market cap of $1.36 billion, a PE ratio of -11.79 and a beta of 2.59. The stock has a 50 day moving average of $3.85 and a 200 day moving average of $2.78. EVgo, Inc. has a 12 month low of $1.65 and a 12 month high of $4.70.

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

About EVgo

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.