Bank of America Corp DE cut its position in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) by 15.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 621,428 shares of the company's stock after selling 109,276 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of EVgo worth $2,517,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in EVGO. Price T Rowe Associates Inc. MD boosted its position in shares of EVgo by 5.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company's stock valued at $351,000 after purchasing an additional 4,597 shares in the last quarter. Rhumbline Advisers increased its stake in shares of EVgo by 3.2% during the fourth quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock valued at $602,000 after purchasing an additional 4,622 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of EVgo by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock valued at $1,210,000 after purchasing an additional 5,377 shares during the last quarter. Paloma Partners Management Co boosted its position in shares of EVgo by 25.0% in the 4th quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock worth $122,000 after purchasing an additional 5,993 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of EVgo by 29.9% in the 4th quarter. Intech Investment Management LLC now owns 49,462 shares of the company's stock worth $200,000 after buying an additional 11,389 shares during the last quarter. Hedge funds and other institutional investors own 17.44% of the company's stock.
Insider Activity
In related news, President Dennis G. Kish sold 73,215 shares of EVgo stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $3.69, for a total transaction of $270,163.35. Following the completion of the transaction, the president now directly owns 72,269 shares in the company, valued at approximately $266,672.61. This trade represents a 50.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 58.79% of the company's stock.
EVgo Stock Performance
EVGO traded up $0.02 on Wednesday, hitting $3.88. The company had a trading volume of 1,479,949 shares, compared to its average volume of 4,461,576. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -9.24 and a beta of 2.27. The stock has a fifty day moving average price of $3.12 and a 200-day moving average price of $3.69. EVgo, Inc. has a 12-month low of $1.94 and a 12-month high of $9.07.
EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02. The business had revenue of $75.29 million for the quarter, compared to analyst estimates of $70.11 million. The business's revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. Analysts forecast that EVgo, Inc. will post -0.45 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. Roth Capital reiterated a "buy" rating on shares of EVgo in a report on Wednesday, May 7th. Evercore ISI lowered their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. Morgan Stanley started coverage on shares of EVgo in a report on Tuesday. They set an "equal weight" rating and a $4.00 price objective for the company. Finally, JPMorgan Chase & Co. restated an "overweight" rating on shares of EVgo in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $6.00.
Check Out Our Latest Report on EVgo
EVgo Company Profile
(
Free Report)
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.
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