Teacher Retirement System of Texas Purchases New Position in EVgo Inc. (NASDAQ:EVGO)

Teacher Retirement System of Texas purchased a new stake in EVgo Inc. (NASDAQ:EVGO) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,940 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of EVgo by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company’s stock valued at $1,210,000 after acquiring an additional 5,377 shares during the period. Raymond James Financial Inc. acquired a new position in shares of EVgo during the fourth quarter worth $80,000. Swiss National Bank purchased a new stake in shares of EVgo in the fourth quarter valued at about $983,000. Intech Investment Management LLC raised its holdings in EVgo by 29.9% during the fourth quarter. Intech Investment Management LLC now owns 49,462 shares of the company’s stock worth $200,000 after purchasing an additional 11,389 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of EVgo during the 4th quarter worth approximately $523,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Insider Buying and Selling at EVgo

In other EVgo news, President Dennis G. Kish sold 73,215 shares of EVgo stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $3.69, for a total value of $270,163.35. Following the sale, the president owned 72,269 shares in the company, valued at $266,672.61. The trade was a 50.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 58.79% of the stock is currently owned by company insiders.

EVgo Stock Up 1.9%

EVGO opened at $3.84 on Tuesday. EVgo Inc. has a 52-week low of $2.19 and a 52-week high of $9.07. The stock has a market cap of $1.18 billion, a P/E ratio of -9.37 and a beta of 2.34. The business has a fifty day moving average of $3.82 and a 200 day moving average of $3.28.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $75.29 million during the quarter, compared to analyst estimates of $70.11 million. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. Equities analysts anticipate that EVgo Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EVGO shares. Morgan Stanley set a $4.00 target price on shares of EVgo and gave the stock an “equal weight” rating in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of EVgo in a report on Thursday, May 8th. Roth Capital reaffirmed a “buy” rating on shares of EVgo in a research note on Wednesday, May 7th. Finally, Evercore ISI reduced their price target on shares of EVgo from $7.00 to $4.00 and set an “outperform” rating for the company in a report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $6.13.

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.