EVgo, Inc. (NYSE:EVGO) Shares Purchased by State Street Corp

State Street Corp lifted its position in EVgo, Inc. (NYSE:EVGO) by 25.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,192,828 shares of the company’s stock after acquiring an additional 847,777 shares during the quarter. State Street Corp’s holdings in EVgo were worth $17,358,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Legacy Capital Wealth Partners LLC acquired a new stake in EVgo during the second quarter worth about $27,000. Point72 DIFC Ltd bought a new position in shares of EVgo during the second quarter valued at approximately $45,000. International Assets Investment Management LLC acquired a new stake in shares of EVgo during the 3rd quarter worth approximately $51,000. Creative Planning lifted its holdings in shares of EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after purchasing an additional 3,297 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in EVgo by 47.0% during the 2nd quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares during the period. 17.44% of the stock is currently owned by institutional investors.

Insider Transactions at EVgo

In other EVgo news, Director David Nanus sold 23,000,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 5,882,352 shares in the company, valued at $29,411,760. This trade represents a 79.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Badar Khan sold 166,725 shares of the business’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 transaction of $856,966.50. Following the sale, the chief executive officer now owns 348,761 shares in the company, valued at $1,792,631.54. This represents a 32.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 66.96% of the company’s stock.

EVgo Stock Performance

Shares of NYSE EVGO opened at $4.27 on Wednesday. EVgo, Inc. has a 1 year low of $1.65 and a 1 year high of $9.07. The firm has a market cap of $1.29 billion, a P/E ratio of -10.17 and a beta of 2.24. The stock has a fifty day moving average price of $6.58 and a two-hundred day moving average price of $4.78.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on EVGO shares. Royal Bank of Canada raised their target price on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of EVgo in a research note on Monday, September 30th. UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, Capital One Financial raised EVgo to a “strong-buy” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, EVgo has an average rating of “Buy” and a consensus price target of $6.61.

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.