Quantbot Technologies LP Purchases Shares of 129,095 EVgo, Inc. (NASDAQ:EVGO)

Quantbot Technologies LP acquired a new position in shares of EVgo, Inc. (NASDAQ:EVGO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 129,095 shares of the company’s stock, valued at approximately $523,000.

A number of other large investors have also recently made changes to their positions in the business. Clear Harbor Asset Management LLC acquired a new stake in shares of EVgo in the 4th quarter worth about $72,000. Blueshift Asset Management LLC bought a new stake in EVgo during the 3rd quarter worth approximately $80,000. Raymond James Financial Inc. purchased a new stake in shares of EVgo in the fourth quarter worth approximately $80,000. Paloma Partners Management Co bought a new position in shares of EVgo in the third quarter valued at approximately $99,000. Finally, Amundi purchased a new position in shares of EVgo during the fourth quarter valued at approximately $113,000. 17.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EVGO. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price target on shares of EVgo in a report on Wednesday, March 5th. UBS Group decreased their price objective on shares of EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Stifel Nicolaus cut their target price on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, EVgo presently has an average rating of “Buy” and a consensus price target of $6.11.

Insider Activity

In related news, President Dennis G. Kish sold 44,184 shares of EVgo stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the transaction, the president now directly owns 95,986 shares in the company, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 66.96% of the company’s stock.

EVgo Trading Up 3.9 %

Shares of NASDAQ EVGO opened at $2.90 on Friday. The firm has a market cap of $888.34 million, a price-to-earnings ratio of -6.90 and a beta of 2.37. The stock has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $4.73. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. The firm had revenue of $67.51 million during the quarter, compared to analysts’ expectations of $69.49 million. Analysts forecast that EVgo, Inc. will post -0.45 EPS for the current year.

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.