Quantbot Technologies LP Takes Position in EVgo, Inc. (NASDAQ:EVGO)

Quantbot Technologies LP acquired a new stake in EVgo, Inc. (NASDAQ:EVGO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 129,095 shares of the company’s stock, valued at approximately $523,000.

Other hedge funds also recently bought and sold shares of the company. Blueshift Asset Management LLC lifted its stake in EVgo by 129.4% in the 4th quarter. Blueshift Asset Management LLC now owns 44,591 shares of the company’s stock worth $181,000 after purchasing an additional 25,157 shares in the last quarter. Intech Investment Management LLC raised its position in shares of EVgo by 29.9% in the fourth quarter. Intech Investment Management LLC now owns 49,462 shares of the company’s stock worth $200,000 after buying an additional 11,389 shares in the last quarter. Erste Asset Management GmbH bought a new stake in EVgo during the fourth quarter valued at $2,321,000. Swiss National Bank purchased a new position in EVgo during the fourth quarter worth about $983,000. Finally, Amundi bought a new position in EVgo in the 4th quarter worth about $113,000. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Insider Activity

In related news, President Dennis G. Kish sold 44,184 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction 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. This represents a 31.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 66.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EVGO shares. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. 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 decreased their price target on shares of EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price objective on shares of EVgo in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $6.11.

EVgo Stock Up 3.9 %

NASDAQ EVGO opened at $2.90 on Friday. The company has a 50-day simple moving average of $2.92 and a two-hundred day simple moving average of $4.73. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07. The firm has a market cap of $888.34 million, a price-to-earnings ratio of -6.90 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last issued its earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The company had revenue of $67.51 million for the quarter, compared to analysts’ expectations of $69.49 million. Equities analysts expect that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

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.