International Assets Investment Management LLC Makes New $580,000 Investment in EVgo, Inc. (NYSE:EVGO)

International Assets Investment Management LLC purchased a new position in shares of EVgo, Inc. (NYSE:EVGO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,110 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of EVgo in the 3rd quarter valued at about $32,000. Verdence Capital Advisors LLC purchased a new position in shares of EVgo in the 3rd quarter valued at about $34,000. Sigma Planning Corp purchased a new position in shares of EVgo in the 3rd quarter valued at about $36,000. Principal Financial Group Inc. purchased a new position in shares of EVgo in the 3rd quarter valued at about $47,000. Finally, Meridian Wealth Management LLC increased its stake in shares of EVgo by 31.7% in the 3rd quarter. Meridian Wealth Management LLC now owns 15,363 shares of the company’s stock valued at $52,000 after purchasing an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

Insider Activity

In other news, CFO Olga Shevorenkova sold 19,363 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the sale, the chief financial officer now directly owns 81,991 shares in the company, valued at $245,973. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Olga Shevorenkova sold 19,363 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the sale, the chief financial officer now directly owns 81,991 shares in the company, valued at $245,973. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total value of $104,151.00. The disclosure for this sale can be found here. Insiders sold 86,002 shares of company stock worth $234,693 over the last ninety days. Corporate insiders own 66.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EVGO shares. Evercore ISI cut their price target on EVgo from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $5.00 price target on shares of EVgo in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $4.00 price objective on shares of EVgo in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.19.

EVgo Trading Down 1.7 %

NYSE:EVGO opened at $1.72 on Thursday. The stock has a 50 day moving average of $2.37 and a two-hundred day moving average of $2.68. The firm has a market cap of $518.61 million, a P/E ratio of -3.66 and a beta of 2.45. EVgo, Inc. has a 12 month low of $1.66 and a 12 month high of $6.48.

EVgo (NYSE:EVGO) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $50.00 million during the quarter, compared to analysts’ expectations of $44.39 million. EVgo’s revenue for the quarter was up 83.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) earnings per share. On average, research analysts forecast that EVgo, Inc. will post -0.37 earnings per share for the current year.

EVgo 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.