Raymond James & Associates Decreases Stake in EVgo, Inc. (NYSE:EVGO)

Raymond James & Associates cut its stake in shares of EVgo, Inc. (NYSE:EVGO) by 21.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,756 shares of the company’s stock after selling 6,100 shares during the quarter. Raymond James & Associates’ holdings in EVgo were worth $81,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new position in EVgo during the third quarter worth about $32,000. Verdence Capital Advisors LLC acquired a new stake in shares of EVgo in the 3rd quarter worth approximately $34,000. Sigma Planning Corp purchased a new position in EVgo in the 3rd quarter valued at approximately $36,000. Principal Financial Group Inc. purchased a new position in EVgo in the 3rd quarter valued at approximately $47,000. Finally, SCP Investment LP raised its holdings in EVgo by 180.0% during the third quarter. SCP Investment LP now owns 28,000 shares of the company’s stock worth $95,000 after purchasing an additional 18,000 shares during the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EVGO. Royal Bank of Canada restated an “outperform” rating and issued a $4.00 price target on shares of EVgo in a research report on Friday, April 5th. Cantor Fitzgerald restated a “neutral” rating and set a $5.00 target price on shares of EVgo in a research report on Thursday, March 7th. Finally, Evercore ISI lowered their price target on shares of EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.19.

Insider Buying and Selling at EVgo

In other news, President Dennis G. Kish sold 34,717 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $104,151.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Olga Shevorenkova sold 19,363 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $58,089.00. Following the transaction, the chief financial officer now owns 81,991 shares in the company, valued at $245,973. The disclosure for this sale can be found here. In the last three months, insiders sold 56,230 shares of company stock worth $167,409. Insiders own 66.96% of the company’s stock.

EVgo Trading Up 5.0 %

Shares of EVGO stock opened at $1.90 on Thursday. The company has a market capitalization of $572.88 million, a price-to-earnings ratio of -4.04 and a beta of 2.45. The firm has a 50-day moving average price of $2.31 and a 200 day moving average price of $2.64. EVgo, Inc. has a twelve month low of $1.65 and a twelve month high of $6.48.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $50.00 million during the quarter, compared to analyst estimates of $44.39 million. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s quarterly revenue was up 83.2% on a year-over-year basis. As a group, research analysts predict that EVgo, Inc. will post -0.37 earnings per share for the current year.

EVgo Company 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.