California State Teachers Retirement System increased its position in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 1,198.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,761 shares of the company's stock after purchasing an additional 87,463 shares during the quarter. California State Teachers Retirement System's holdings in EVgo were worth $384,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of EVgo by 3.2% during the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock worth $602,000 after buying an additional 4,622 shares during the period. New York State Common Retirement Fund grew its position in shares of EVgo by 70.6% during the 4th quarter. New York State Common Retirement Fund now owns 31,173 shares of the company's stock worth $126,000 after buying an additional 12,900 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of EVgo during the 4th quarter worth about $425,000. Olympiad Research LP acquired a new position in shares of EVgo during the 4th quarter worth about $139,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of EVgo by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock worth $1,210,000 after buying an additional 5,377 shares during the period. 17.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at EVgo
In other EVgo news, President Dennis G. Kish sold 73,215 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $3.69, for a total value of $270,163.35. Following the transaction, the president now directly owns 72,269 shares of the company's stock, valued at $266,672.61. This represents a 50.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 58.79% of the company's stock.
EVgo Stock Performance
EVGO traded down $0.07 during trading hours on Friday, reaching $4.29. The company's stock had a trading volume of 2,935,706 shares, compared to its average volume of 4,424,821. EVgo, Inc. has a 52 week low of $1.95 and a 52 week high of $9.07. The company's 50-day moving average is $3.36 and its 200-day moving average is $3.57. The firm has a market cap of $1.32 billion, a PE ratio of -10.21 and a beta of 2.41.
EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The business had revenue of $75.29 million during the quarter, compared to the consensus estimate of $70.11 million. During the same quarter last year, the company posted ($0.09) EPS. The firm's revenue was up 36.4% on a year-over-year basis. Equities analysts anticipate that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on EVGO shares. Morgan Stanley set a $4.00 price objective on EVgo and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Stifel Nicolaus decreased their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Roth Capital reiterated a "buy" rating on shares of EVgo in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of EVgo in a research report on Thursday, May 8th. Finally, Evercore ISI cut their target price on EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, EVgo presently has an average rating of "Buy" and a consensus target price of $6.00.
View Our Latest Analysis on EVgo
EVgo 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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