Atria Wealth Solutions Inc. Sells 17,375 Shares of EVgo Inc. $EVGO

Atria Wealth Solutions Inc. lessened its position in shares of EVgo Inc. (NASDAQ:EVGO) by 25.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,733 shares of the company’s stock after selling 17,375 shares during the period. Atria Wealth Solutions Inc.’s holdings in EVgo were worth $132,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. BIT Capital GmbH bought a new position in shares of EVgo in the 1st quarter valued at about $59,000. XTX Topco Ltd bought a new position in shares of EVgo in the 1st quarter valued at about $55,000. Federated Hermes Inc. bought a new position in shares of EVgo in the 1st quarter valued at about $856,000. Inspire Advisors LLC bought a new position in shares of EVgo in the 1st quarter valued at about $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of EVgo by 138.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,780 shares of the company’s stock valued at $239,000 after acquiring an additional 52,130 shares in the last quarter. Institutional investors own 17.44% of the company’s stock.

EVgo Stock Performance

EVgo stock opened at $3.81 on Monday. EVgo Inc. has a 52 week low of $2.19 and a 52 week high of $9.07. The stock has a market capitalization of $1.17 billion, a P/E ratio of -9.29 and a beta of 2.33. The stock has a 50-day simple moving average of $3.75 and a 200 day simple moving average of $3.27.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The company had revenue of $98.03 million for the quarter, compared to analyst estimates of $86.15 million. The company’s revenue was up 47.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) earnings per share. Research analysts forecast that EVgo Inc. will post -0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EVGO shares. Morgan Stanley raised their price objective on EVgo from $4.00 to $4.50 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. restated an “overweight” rating on shares of EVgo in a report on Thursday, May 8th. Finally, Roth Capital restated a “buy” rating on shares of EVgo in a report on Wednesday, May 7th. Two 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 company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $6.19.

Insider Transactions at EVgo

In other EVgo news, President Dennis G. Kish sold 73,215 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $3.69, for a total transaction of $270,163.35. Following the completion of the sale, the president directly owned 72,269 shares in the company, valued at $266,672.61. This trade represents a 50.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 58.79% of the stock is owned by company insiders.

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.