Intech Investment Management LLC Buys 11,389 Shares of EVgo, Inc. (NASDAQ:EVGO)

Intech Investment Management LLC grew its stake in shares of EVgo, Inc. (NASDAQ:EVGO) by 29.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,462 shares of the company’s stock after buying an additional 11,389 shares during the quarter. Intech Investment Management LLC’s holdings in EVgo were worth $200,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. DRW Securities LLC acquired a new stake in shares of EVgo during the 3rd quarter valued at $114,000. Blueshift Asset Management LLC bought a new stake in shares of EVgo during the third quarter worth about $80,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of EVgo by 9.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,945 shares of the company’s stock valued at $509,000 after buying an additional 10,532 shares during the period. Verition Fund Management LLC bought a new position in EVgo in the 3rd quarter valued at approximately $653,000. Finally, Firsthand Capital Management Inc. boosted its position in EVgo by 2,403.1% during the 3rd quarter. Firsthand Capital Management Inc. now owns 40,000 shares of the company’s stock worth $166,000 after buying an additional 38,402 shares during the period. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EVGO shares. JPMorgan Chase & Co. dropped their price target on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. UBS Group lowered their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Stifel Nicolaus decreased their target price on shares of EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.11.

EVgo Stock Down 2.1 %

EVgo stock opened at $2.79 on Thursday. The company has a market capitalization of $854.64 million, a PE ratio of -6.64 and a beta of 2.37. The firm’s fifty day moving average is $2.94 and its 200 day moving average is $4.74. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The company had revenue of $67.51 million for the quarter, compared to the consensus estimate of $69.49 million. Sell-side analysts expect that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at EVgo

In related news, President Dennis G. Kish sold 44,184 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the sale, the president now owns 95,986 shares of the company’s stock, valued at approximately $327,312.26. This represents a 31.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 66.96% of the stock is owned by company insiders.

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.