Fox Run Management L.L.C. Purchases Shares of 24,880 EVgo, Inc. (NASDAQ:EVGO)

Fox Run Management L.L.C. acquired a new position in shares of EVgo, Inc. (NASDAQ:EVGO) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 24,880 shares of the company’s stock, valued at approximately $101,000.

A number of other hedge funds have also made changes to their positions in the business. Intech Investment Management LLC acquired a new position in EVgo in the third quarter valued at approximately $158,000. Blueshift Asset Management LLC acquired a new position in shares of EVgo in the 3rd quarter valued at $80,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of EVgo by 9.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,945 shares of the company’s stock valued at $509,000 after buying an additional 10,532 shares during the last quarter. Verition Fund Management LLC purchased a new stake in EVgo in the third quarter valued at $653,000. Finally, Firsthand Capital Management Inc. boosted its stake in EVgo by 2,403.1% in the third quarter. Firsthand Capital Management Inc. now owns 40,000 shares of the company’s stock valued at $166,000 after acquiring an additional 38,402 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EVGO. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Stifel Nicolaus cut their target price 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 reiterated an “overweight” rating and set a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. Finally, UBS Group dropped their price objective on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.11.

Insiders Place Their Bets

In other 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 transaction, the president now directly owns 95,986 shares of the company’s stock, valued at $327,312.26. This represents a 31.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 66.96% of the stock is currently owned by company insiders.

EVgo Stock Down 2.8 %

Shares of NASDAQ:EVGO opened at $2.82 on Friday. EVgo, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $9.07. The firm’s 50-day simple moving average is $2.91 and its 200-day simple moving average is $4.72. The company has a market cap of $863.83 million, a price-to-earnings ratio of -6.71 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $67.51 million during the quarter, compared to analysts’ expectations of $69.49 million. On average, research analysts forecast that EVgo, Inc. will post -0.45 EPS 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.