EVgo, Inc. (NASDAQ:EVGO) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its stake in EVgo, Inc. (NASDAQ:EVGO) by 40.3% during the 4th quarter, Holdings Channel reports. The firm owned 55,060 shares of the company’s stock after selling 37,150 shares during the quarter. Alliancebernstein L.P.’s holdings in EVgo were worth $223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in EVgo by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company’s stock worth $49,414,000 after buying an additional 2,043,449 shares in the last quarter. State Street Corp increased its position in shares of EVgo by 25.3% during the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after purchasing an additional 847,777 shares in the last quarter. Geode Capital Management LLC raised its stake in EVgo by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock valued at $10,020,000 after purchasing an additional 90,887 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in EVgo by 93.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,213,688 shares of the company’s stock worth $4,915,000 after purchasing an additional 586,108 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of EVgo in the fourth quarter valued at about $2,321,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

EVgo Stock Performance

EVgo stock opened at $2.47 on Tuesday. The firm has a 50 day moving average price of $2.66 and a 200 day moving average price of $4.48. EVgo, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $9.07. The company has a market capitalization of $756.62 million, a PE ratio of -5.88 and a beta of 2.28.

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 the consensus estimate of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to analyst estimates of $69.49 million. As a group, equities research analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on EVGO shares. JPMorgan Chase & Co. dropped their price objective on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Evercore ISI cut their price target on EVgo from $7.00 to $4.00 and set an “outperform” rating for the company in a report on Monday, March 31st. UBS Group dropped their target price on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a 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 report on Thursday, March 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price objective on shares of EVgo in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, EVgo presently has a consensus rating of “Buy” and an average price target of $5.78.

Insiders Place Their Bets

In other news, President Dennis G. Kish sold 44,184 shares of the company’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 sale, the president now owns 95,986 shares of the company’s stock, valued at approximately $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 58.79% of the stock is 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.