Voya Investment Management LLC Sells 3,696 Shares of EVgo, Inc. (NASDAQ:EVGO)

Voya Investment Management LLC cut its position in EVgo, Inc. (NASDAQ:EVGO) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 30,007 shares of the company’s stock after selling 3,696 shares during the period. Voya Investment Management LLC’s holdings in EVgo were worth $122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVGO. Mariner LLC acquired a new position in EVgo in the 4th quarter worth about $48,000. SCP Investment LP purchased a new stake in shares of EVgo during the fourth quarter valued at approximately $60,000. Clear Harbor Asset Management LLC purchased a new stake in EVgo in the fourth quarter worth $72,000. Polymer Capital Management US LLC bought a new position in shares of EVgo in the fourth quarter worth $73,000. Finally, Raymond James Financial Inc. bought a new position in shares of EVgo in the fourth quarter worth $80,000. 17.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EVGO has been the subject of several research analyst reports. Stifel Nicolaus dropped their price target on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Evercore ISI dropped their price target on EVgo from $7.00 to $4.00 and set an “outperform” rating on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of EVgo in a research report on Thursday, May 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price objective on shares of EVgo in a research note on Wednesday, March 5th. Finally, UBS Group cut their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $6.25.

EVgo Stock Performance

EVgo stock opened at $4.05 on Thursday. The company has a market capitalization of $1.24 billion, a PE ratio of -9.64 and a beta of 2.27. EVgo, Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $9.07. The company has a 50 day moving average price of $2.79 and a 200-day moving average price of $3.98.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $75.29 million during the quarter, compared to analysts’ expectations of $70.11 million. EVgo’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. On average, analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current year.

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.