EVgo, Inc. (NASDAQ:EVGO) Holdings Raised by Blueshift Asset Management LLC

Blueshift Asset Management LLC increased its stake in EVgo, Inc. (NASDAQ:EVGO) by 129.4% during the fourth quarter, HoldingsChannel reports. The firm owned 44,591 shares of the company’s stock after acquiring an additional 25,157 shares during the period. Blueshift Asset Management LLC’s holdings in EVgo were worth $181,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of EVgo by 25.3% during the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock valued at $17,358,000 after acquiring an additional 847,777 shares during the period. Geode Capital Management LLC raised its stake in EVgo by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock valued at $10,020,000 after purchasing an additional 90,887 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of EVgo in the fourth quarter valued at $2,321,000. HITE Hedge Asset Management LLC boosted its position in shares of EVgo by 105.0% in the third quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock worth $1,714,000 after buying an additional 212,004 shares during the period. Finally, Charles Schwab Investment Management Inc. grew 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 buying an additional 5,377 shares in the last quarter. 17.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group reduced their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Stifel Nicolaus decreased their price target on shares of EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. dropped their price objective on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $6.11.

Insider Transactions at EVgo

In related news, President Dennis G. Kish sold 17,379 shares of EVgo stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $4.32, for a total value of $75,077.28. Following the transaction, the president now owns 13,655 shares in the company, valued at $58,989.60. This trade represents a 56.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 66.96% of the stock is owned by corporate insiders.

EVgo Price Performance

EVgo stock opened at $2.76 on Friday. EVgo, Inc. has a one year low of $1.65 and a one year high of $9.07. The company’s fifty day moving average price is $3.00 and its two-hundred day moving average price is $4.77. The company has a market capitalization of $845.45 million, a price-to-earnings ratio of -6.57 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data 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 company had revenue of $67.51 million during the quarter, compared to the consensus estimate of $69.49 million. As a group, sell-side analysts anticipate that EVgo, Inc. will post -0.45 earnings per share for the current year.

About EVgo

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.