Healthcare of Ontario Pension Plan Trust Fund Raises Holdings in EVgo, Inc. (NYSE:EVGO)

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of EVgo, Inc. (NYSE:EVGO) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,945 shares of the company’s stock after acquiring an additional 10,532 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in EVgo were worth $509,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EVGO. Vanguard Group Inc. raised its holdings in EVgo by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after purchasing an additional 37,168 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in EVgo by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after acquiring an additional 6,633 shares in the last quarter. Tidal Investments LLC lifted its holdings in EVgo by 32.2% during the first quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock valued at $798,000 after purchasing an additional 77,354 shares in the last quarter. SG Americas Securities LLC grew its position in shares of EVgo by 47.0% in the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock valued at $59,000 after purchasing an additional 7,687 shares during the period. Finally, Atria Wealth Solutions Inc. increased its stake in shares of EVgo by 2.8% during the second quarter. Atria Wealth Solutions Inc. now owns 330,871 shares of the company’s stock worth $811,000 after purchasing an additional 8,940 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JPMorgan Chase & Co. raised EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 target price for the company in a report on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of EVgo in a research report on Monday, September 30th. Stifel Nicolaus raised their price target on shares of EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $6.61.

Insider Buying and Selling

In other EVgo news, CEO Badar Khan sold 166,725 shares of EVgo stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the transaction, the chief executive officer now directly owns 348,761 shares in the company, valued at approximately $1,792,631.54. The trade was a 32.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 66.96% of the stock is currently owned by company insiders.

EVgo Price Performance

EVgo stock opened at $6.51 on Tuesday. The stock has a market cap of $1.97 billion, a PE ratio of -15.36 and a beta of 2.38. The stock’s fifty day moving average is $6.50 and its two-hundred day moving average is $4.37. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07.

EVgo (NYSE:EVGO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $67.50 million for the quarter, compared to analyst estimates of $66.52 million. During the same period last year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 92.3% on a year-over-year basis. On average, research analysts expect that EVgo, Inc. will post -0.41 earnings per share for the current fiscal year.

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.