California State Teachers Retirement System Sells 6,630 Shares of EVgo, Inc. (NYSE:EVGO)

California State Teachers Retirement System trimmed its stake in shares of EVgo, Inc. (NYSE:EVGO) by 38.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,410 shares of the company’s stock after selling 6,630 shares during the period. California State Teachers Retirement System’s holdings in EVgo were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVGO. International Assets Investment Management LLC purchased a new stake in EVgo during the 4th quarter valued at $580,000. Handelsbanken Fonder AB purchased a new position in EVgo in the fourth quarter worth about $121,000. Atria Wealth Solutions Inc. boosted its position in EVgo by 3.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 288,368 shares of the company’s stock worth $1,032,000 after purchasing an additional 8,879 shares during the last quarter. KBC Group NV grew its stake in shares of EVgo by 88.7% during the 4th quarter. KBC Group NV now owns 227,367 shares of the company’s stock valued at $814,000 after purchasing an additional 106,869 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in shares of EVgo during the 4th quarter valued at about $72,000. Institutional investors own 17.44% of the company’s stock.

Insider Activity at EVgo

In other EVgo news, President Dennis G. Kish sold 16,414 shares of the business’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 $59,090.40. Following the sale, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other EVgo news, President Dennis G. Kish sold 16,414 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the completion of the transaction, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the completion of the sale, the insider now directly owns 117,327 shares in the company, valued at approximately $422,377.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,475 shares of company stock valued at $110,189. Corporate insiders own 66.96% of the company’s stock.

EVgo Trading Down 3.2 %

NYSE:EVGO opened at $3.66 on Wednesday. The stock has a 50-day moving average price of $3.15 and a 200 day moving average price of $2.56. The stock has a market capitalization of $1.11 billion, a P/E ratio of -9.63 and a beta of 2.58. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $4.70.

EVgo (NYSE:EVGO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to the consensus estimate of $59.40 million. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) earnings per share. On average, research analysts predict that EVgo, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of EVgo from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Stifel Nicolaus cut their price objective on shares of EVgo from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 target price on shares of EVgo in a report on Monday. Citigroup cut their price target on EVgo from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.63.

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.