SG Americas Securities LLC Takes Position in EVgo Inc. (NASDAQ:EVGO)

SG Americas Securities LLC acquired a new position in EVgo Inc. (NASDAQ:EVGO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 121,783 shares of the company's stock, valued at approximately $324,000.

A number of other institutional investors have also added to or reduced their stakes in EVGO. Rhumbline Advisers grew its position in EVgo by 3.2% in the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock worth $602,000 after purchasing an additional 4,622 shares in the last quarter. New York State Common Retirement Fund grew its position in EVgo by 70.6% in the 4th quarter. New York State Common Retirement Fund now owns 31,173 shares of the company's stock worth $126,000 after purchasing an additional 12,900 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in EVgo by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock worth $1,210,000 after purchasing an additional 5,377 shares in the last quarter. Aigen Investment Management LP bought a new stake in EVgo in the 4th quarter worth about $160,000. Finally, Arizona State Retirement System bought a new stake in EVgo in the 4th quarter worth about $120,000. 17.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 73,215 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $3.69, for a total value of $270,163.35. Following the sale, the president now directly owns 72,269 shares in the company, valued at $266,672.61. This represents a 50.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 58.79% of the company's stock.

EVgo Trading Down 5.6%

Shares of EVGO stock traded down $0.22 during trading on Friday, reaching $3.72. 8,617,525 shares of the company's stock traded hands, compared to its average volume of 4,686,809. The company has a market capitalization of $1.14 billion, a P/E ratio of -9.07 and a beta of 2.40. The firm's 50-day moving average is $3.66 and its 200 day moving average is $3.39. EVgo Inc. has a 1 year low of $2.19 and a 1 year high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $75.29 million during the quarter, compared to analysts' expectations of $70.11 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The business's revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, sell-side analysts predict that EVgo Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

EVGO has been the subject of a number of recent analyst reports. Evercore ISI reduced their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research report on Monday, March 31st. Needham & Company LLC reiterated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Stifel Nicolaus dropped their target price on shares of EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. Finally, Morgan Stanley set a $4.00 target price on shares of EVgo and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Two equities research 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. Based on data from MarketBeat.com, EVgo presently has a consensus rating of "Buy" and a consensus price target of $6.00.

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.