EVgo, Inc. (NASDAQ:EVGO) Shares Purchased by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 1,081.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,681 shares of the company's stock after purchasing an additional 94,905 shares during the period. Legal & General Group Plc's holdings in EVgo were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new stake in EVgo during the 4th quarter valued at about $60,000. Clear Harbor Asset Management LLC purchased a new stake in EVgo in the 4th quarter valued at $72,000. Polymer Capital Management US LLC acquired a new stake in shares of EVgo in the 4th quarter worth $73,000. Raymond James Financial Inc. purchased a new stake in shares of EVgo in the fourth quarter valued at about $80,000. Finally, Virtu Financial LLC acquired a new stake in EVgo during the fourth quarter worth about $99,000. Hedge funds and other institutional investors own 17.44% of the company's stock.

Insider Activity

In other news, President Dennis G. Kish sold 44,184 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the sale, the president now owns 95,986 shares of the company's stock, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 58.79% of the company's stock.

EVgo Trading Up 1.4 %

Shares of NASDAQ:EVGO traded up $0.04 during midday trading on Friday, hitting $2.85. 2,276,368 shares of the stock were exchanged, compared to its average volume of 4,061,891. The company has a 50 day moving average price of $2.62 and a 200-day moving average price of $4.24. EVgo, Inc. has a twelve month low of $1.73 and a twelve month high of $9.07. The stock has a market cap of $873.02 million, a P/E ratio of -6.79 and a beta of 2.28.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million during the quarter, compared to analyst estimates of $69.49 million. On average, equities research analysts expect that EVgo, Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stifel Nicolaus cut their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Evercore ISI reduced their price objective on EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. lowered their target price on EVgo from $6.00 to $5.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. UBS Group decreased their price target on shares of EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Two 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $5.78.

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.