EVgo, Inc. (NASDAQ:EVGO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of EVgo, Inc. (NASDAQ:EVGO) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 324,013 shares of the company’s stock after selling 16,420 shares during the period. Bank of New York Mellon Corp’s holdings in EVgo were worth $1,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of EVgo by 25.3% during the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after buying an additional 847,777 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of EVgo by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after buying an additional 90,887 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of EVgo during the 4th quarter worth $425,000. Rhumbline Advisers increased its holdings in EVgo by 3.2% in the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company’s stock valued at $602,000 after purchasing an additional 4,622 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in EVgo in the 3rd quarter valued at $653,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 44,184 shares of EVgo stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the transaction, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 66.96% of the stock is currently owned by company insiders.

EVgo Price Performance

NASDAQ EVGO opened at $2.76 on Monday. EVgo, Inc. has a 12 month low of $1.65 and a 12 month high of $9.07. The firm has a market capitalization of $845.45 million, a PE ratio of -6.57 and a beta of 2.37. The company’s 50 day simple moving average is $3.00 and its 200 day simple moving average is $4.77.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group lowered 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. JPMorgan Chase & Co. decreased their price objective on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Stifel Nicolaus decreased their price objective on shares of EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price objective on shares of EVgo in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. Two investment 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 MarketBeat.com, EVgo presently has a consensus rating of “Buy” and an average target price of $6.11.

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.