KLP Kapitalforvaltning AS Purchases Shares of 25,200 EVgo, Inc. (NASDAQ:EVGO)

KLP Kapitalforvaltning AS acquired a new position in shares of EVgo, Inc. (NASDAQ:EVGO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,200 shares of the company’s stock, valued at approximately $102,000.

Other hedge funds also recently modified their holdings of the company. Clear Harbor Asset Management LLC bought a new stake in EVgo during the 4th quarter worth approximately $72,000. Raymond James Financial Inc. acquired a new position in EVgo in the fourth quarter worth $80,000. Virtu Financial LLC bought a new stake in shares of EVgo during the fourth quarter worth $99,000. Amundi acquired a new stake in shares of EVgo in the fourth quarter valued at $113,000. Finally, Arizona State Retirement System acquired a new position in shares of EVgo during the fourth quarter worth approximately $120,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

EVgo Stock Down 2.3 %

Shares of NASDAQ EVGO opened at $2.53 on Friday. EVgo, Inc. has a twelve month low of $1.65 and a twelve month high of $9.07. The company has a market cap of $775.00 million, a PE ratio of -6.02 and a beta of 2.28. The business’s 50 day moving average price is $2.73 and its two-hundred day moving average price is $4.58.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $69.49 million. As a group, research analysts anticipate that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at EVgo

In other EVgo news, President Dennis G. Kish sold 44,184 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the transaction, the president now owns 95,986 shares in the company, valued at $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 available at the SEC website. 66.96% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EVGO shares. UBS Group reduced their target price on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Stifel Nicolaus cut their price target on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Wednesday, March 5th. Evercore ISI reduced their target price on EVgo from $7.00 to $4.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $5.78.

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.