Intech Investment Management LLC Acquires 11,389 Shares of EVgo, Inc. (NASDAQ:EVGO)

Intech Investment Management LLC boosted its stake in EVgo, Inc. (NASDAQ:EVGO) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,462 shares of the company’s stock after acquiring an additional 11,389 shares during the period. Intech Investment Management LLC’s holdings in EVgo were worth $200,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC bought a new stake in shares of EVgo during the 4th quarter valued at about $72,000. Blueshift Asset Management LLC purchased a new stake in shares of EVgo in the 3rd quarter worth about $80,000. Raymond James Financial Inc. bought a new stake in EVgo during the fourth quarter worth about $80,000. Paloma Partners Management Co bought a new stake in shares of EVgo in the 3rd quarter worth approximately $99,000. Finally, Amundi purchased a new stake in shares of EVgo in the 4th quarter worth approximately $113,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on EVGO shares. Stifel Nicolaus dropped their target price on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. UBS Group decreased their target price on shares of EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Finally, 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 report on Wednesday, March 12th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $6.11.

Insider Activity

In other EVgo news, President Dennis G. Kish sold 44,184 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction of $150,667.44. Following the sale, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. This trade represents a 31.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 66.96% of the company’s stock.

EVgo Trading Down 2.1 %

EVGO opened at $2.79 on Thursday. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07. The firm’s 50 day simple moving average is $2.94 and its two-hundred day simple moving average is $4.74. The company has a market capitalization of $854.64 million, a PE ratio of -6.64 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last released its earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The company had revenue of $67.51 million for the quarter, compared to analysts’ expectations of $69.49 million. Equities analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

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.