EVgo, Inc. (NASDAQ:EVGO) Stock Position Lifted by Headlands Technologies LLC

Headlands Technologies LLC lifted its stake in shares of EVgo, Inc. (NASDAQ:EVGO) by 71.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,642 shares of the company’s stock after purchasing an additional 50,948 shares during the quarter. Headlands Technologies LLC’s holdings in EVgo were worth $497,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of EVgo by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company’s stock valued at $49,414,000 after buying an additional 2,043,449 shares during the period. State Street Corp lifted its holdings in EVgo by 25.3% in the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock valued at $17,358,000 after acquiring an additional 847,777 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of EVgo by 93.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,213,688 shares of the company’s stock valued at $4,915,000 after purchasing an additional 586,108 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of EVgo in the 4th quarter worth approximately $2,321,000. Finally, Swiss National Bank bought a new stake in shares of EVgo in the 4th quarter worth approximately $983,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

Analyst Upgrades and Downgrades

EVGO has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. UBS Group decreased their target price on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Stifel Nicolaus reduced their target price on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research note on Wednesday, March 5th. Finally, Evercore ISI reduced their price objective on shares of EVgo from $7.00 to $4.00 and set an “outperform” rating for the company in a research note on Monday. 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 stock. According to data from MarketBeat.com, EVgo currently has an average rating of “Buy” and an average target price of $5.78.

EVgo Stock Performance

Shares of EVGO opened at $2.55 on Friday. EVgo, Inc. has a 52 week low of $1.65 and a 52 week high of $9.07. The company has a market capitalization of $781.12 million, a PE ratio of -6.07 and a beta of 2.37. The company’s 50 day moving average price is $2.86 and its 200 day moving average price is $4.67.

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

Insider Activity

In other EVgo news, President Dennis G. Kish sold 44,184 shares of EVgo stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the sale, the president now directly owns 95,986 shares in the company, valued at $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 66.96% of the stock is owned by corporate insiders.

About EVgo

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.