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

International Assets Investment Management LLC acquired a new stake in EVgo, Inc. (NYSE:EVGO) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,420 shares of the company’s stock, valued at approximately $51,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Legacy Capital Wealth Partners LLC bought a new stake in EVgo in the second quarter worth $27,000. Bleakley Financial Group LLC bought a new stake in shares of EVgo in the 1st quarter valued at about $36,000. SG Americas Securities LLC purchased a new stake in EVgo during the 1st quarter valued at about $41,000. Point72 DIFC Ltd bought a new position in EVgo during the 2nd quarter worth approximately $45,000. Finally, Creative Planning grew its position in EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after acquiring an additional 3,297 shares during the last quarter. Institutional investors own 17.44% of the company’s stock.

Insider Buying and Selling at EVgo

In related news, insider Francine Sullivan sold 12,584 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the transaction, the insider now directly owns 117,327 shares in the company, valued at $422,377.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the sale, the president now directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Francine Sullivan sold 12,584 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the transaction, the insider now owns 117,327 shares of the company’s stock, valued at $422,377.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 66.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EVGO. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. TD Cowen raised shares of EVgo from a “hold” rating to a “buy” rating and raised their price target for the stock from $5.00 to $7.00 in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EVgo presently has a consensus rating of “Buy” and an average price target of $6.61.

EVgo Stock Performance

Shares of NYSE:EVGO opened at $6.13 on Friday. EVgo, Inc. has a 52-week low of $1.65 and a 52-week high of $9.07. The firm has a market capitalization of $1.86 billion, a P/E ratio of -15.32 and a beta of 2.38. The stock has a 50 day moving average price of $6.01 and a 200-day moving average price of $3.90.

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.