Geode Capital Management LLC Acquires 12,320 Shares of EVgo, Inc. (NASDAQ:EVGO)

Geode Capital Management LLC boosted its holdings in EVgo, Inc. (NASDAQ:EVGO) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,432,183 shares of the company’s stock after buying an additional 12,320 shares during the period. Geode Capital Management LLC owned approximately 0.80% of EVgo worth $9,853,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EVGO. SCP Investment LP bought a new position in shares of EVgo during the fourth quarter valued at $60,000. Clear Harbor Asset Management LLC acquired a new stake in shares of EVgo during the 4th quarter worth about $72,000. Raymond James Financial Inc. bought a new position in EVgo during the 4th quarter valued at about $80,000. Virtu Financial LLC acquired a new position in EVgo in the fourth quarter valued at about $99,000. Finally, Fox Run Management L.L.C. bought a new stake in EVgo during the fourth quarter worth about $101,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Performance

NASDAQ EVGO opened at $2.54 on Thursday. The stock has a market cap of $778.06 million, a price-to-earnings ratio of -6.05 and a beta of 2.28. The business has a 50 day simple moving average of $2.64 and a 200 day simple moving average of $4.45. EVgo, Inc. has a 52-week low of $1.65 and a 52-week high of $9.07.

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

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 44,184 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction of $150,667.44. Following the sale, the president now directly owns 95,986 shares of the company’s stock, valued at approximately $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 58.79% of the company’s stock.

Analyst Upgrades and Downgrades

EVGO has been the subject of a number of research analyst reports. UBS Group cut their price target on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Stifel Nicolaus lowered 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $5.78.

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.