ProShare Advisors LLC Sells 4,734 Shares of EVgo, Inc. (NYSE:EVGO)

ProShare Advisors LLC lowered its holdings in EVgo, Inc. (NYSE:EVGO) by 25.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,867 shares of the company’s stock after selling 4,734 shares during the period. ProShare Advisors LLC’s holdings in EVgo were worth $34,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Legacy Capital Wealth Partners LLC purchased a new position in EVgo during the second quarter valued at approximately $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of EVgo during the fourth quarter valued at approximately $29,000. Bleakley Financial Group LLC purchased a new position in EVgo during the 1st quarter valued at $36,000. SG Americas Securities LLC bought a new position in EVgo in the 1st quarter worth $41,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in EVgo in the 1st quarter worth $71,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

EVgo Stock Down 3.8 %

EVGO opened at $6.93 on Tuesday. The company has a market capitalization of $2.09 billion, a PE ratio of -17.71 and a beta of 2.58. The firm has a 50-day simple moving average of $4.13 and a two-hundred day simple moving average of $2.98. EVgo, Inc. has a 52 week low of $1.65 and a 52 week high of $7.69.

EVgo (NYSE:EVGO) last posted its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $66.62 million during the quarter, compared to the consensus estimate of $59.40 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts expect that EVgo, Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group assumed coverage on shares of EVgo in a report on Monday, July 22nd. They issued a “neutral” rating and a $4.00 price objective for the company. TD Cowen upgraded shares of EVgo from a “hold” rating to a “buy” rating and upped their target price for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upgraded shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price target for the company in a research note on Thursday, October 3rd. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of EVgo in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.22.

Insider Activity at EVgo

In other EVgo news, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.60, for a total transaction of $45,302.40. Following the completion of the transaction, the insider now directly owns 117,327 shares of the company’s stock, valued at $422,377.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $59,090.40. Following the sale, the president now directly owns 47,614 shares in the company, valued at approximately $171,410.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Francine Sullivan sold 12,584 shares of EVgo stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the sale, the insider now owns 117,327 shares of the company’s stock, valued at approximately $422,377.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 66.96% of the stock is currently owned by 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.