Swiss National Bank Invests $983,000 in EVgo, Inc. (NASDAQ:EVGO)

Swiss National Bank purchased a new position in shares of EVgo, Inc. (NASDAQ:EVGO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 242,600 shares of the company’s stock, valued at approximately $983,000.

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

EVgo Price Performance

Shares of EVgo stock opened at $2.82 on Friday. The company has a market capitalization of $863.83 million, a P/E ratio of -6.71 and a beta of 2.37. The business has a 50-day moving average of $2.91 and a two-hundred day moving average of $4.72. EVgo, Inc. has a 1 year low of $1.65 and a 1 year high of $9.07.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. UBS Group dropped their target price on shares of EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Stifel Nicolaus reduced their price target on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price objective on shares of EVgo in a report on Wednesday, March 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Two research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.11.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 17,379 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $4.32, for a total transaction of $75,077.28. Following the completion of the transaction, the president now owns 13,655 shares in the company, valued at approximately $58,989.60. This represents a 56.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 66.96% of the stock is currently owned by company insiders.

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.