EVgo, Inc. (NYSE:EVGO) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in EVgo, Inc. (NYSE:EVGO) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,746 shares of the company’s stock after selling 6,254 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in EVgo were worth $331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in EVgo by 0.4% in the first quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock valued at $24,344,000 after purchasing an additional 37,168 shares during the period. Bleakley Financial Group LLC purchased a new position in EVgo in the first quarter valued at $36,000. SG Americas Securities LLC purchased a new position in EVgo in the first quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in EVgo in the first quarter valued at $71,000. Finally, Simplicity Wealth LLC purchased a new position in EVgo in the first quarter valued at $36,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group began coverage on EVgo in a report on Monday. They issued a “neutral” rating and a $4.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $4.00 price target on shares of EVgo in a research note on Friday, April 5th. Citigroup cut their price target on EVgo from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Benchmark raised their price target on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Evercore ISI cut their price target on EVgo from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, EVgo has a consensus rating of “Moderate Buy” and a consensus target price of $4.29.

Insider Transactions at EVgo

In other news, CEO Badar Khan bought 125,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $2.01 per share, for a total transaction of $251,250.00. Following the completion of the transaction, the chief executive officer now owns 143,874 shares of the company’s stock, valued at $289,186.74. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 66.96% of the company’s stock.

EVgo Trading Down 3.5 %

EVGO opened at $3.62 on Friday. The business’s 50-day simple moving average is $2.57 and its 200-day simple moving average is $2.42. EVgo, Inc. has a one year low of $1.65 and a one year high of $5.95.

EVgo (NYSE:EVGO) last posted its earnings results on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $55.16 million for the quarter, compared to analyst estimates of $52.41 million. During the same quarter last year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was up 118.0% on a year-over-year basis. On average, sell-side analysts anticipate that EVgo, Inc. will post -0.38 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.