Federated Hermes Inc. acquired a new position in shares of EVgo Inc. (NASDAQ:EVGO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 321,823 shares of the company's stock, valued at approximately $856,000. Federated Hermes Inc. owned about 0.11% of EVgo at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of EVGO. Merit Financial Group LLC acquired a new position in shares of EVgo in the 1st quarter valued at $31,000. Ballentine Partners LLC acquired a new position in EVgo in the first quarter valued at about $32,000. Mariner LLC acquired a new position in EVgo in the fourth quarter valued at about $48,000. Teacher Retirement System of Texas purchased a new position in EVgo during the first quarter worth about $48,000. Finally, FORA Capital LLC acquired a new stake in shares of EVgo during the fourth quarter valued at about $56,000. 17.44% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently issued reports on EVGO. Roth Capital reissued a "buy" rating on shares of EVgo in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reissued an "overweight" rating on shares of EVgo in a research report on Thursday, May 8th. Finally, Morgan Stanley raised their price target on EVgo from $4.00 to $4.50 and gave the stock an "equal weight" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $6.19.
View Our Latest Stock Analysis on EVgo
Insider Transactions at EVgo
In other news, President Dennis G. Kish sold 73,215 shares of the business's stock in a transaction dated 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 directly owned 72,269 shares of the company's stock, valued at approximately $266,672.61. The trade was a 50.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 58.79% of the stock is owned by corporate insiders.
EVgo Price Performance
EVgo stock opened at $3.49 on Friday. EVgo Inc. has a 52-week low of $2.19 and a 52-week high of $9.07. The firm has a market cap of $1.07 billion, a PE ratio of -8.51 and a beta of 2.33. The company's 50 day moving average is $3.76 and its two-hundred day moving average is $3.26.
EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. The company had revenue of $98.03 million for the quarter, compared to analysts' expectations of $86.15 million. The firm's revenue was up 47.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. On average, equities research analysts anticipate that EVgo Inc. will post -0.45 earnings per share for the current fiscal year.
EVgo Profile
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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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