SCP Investment LP Takes $60,000 Position in EVgo, Inc. (NASDAQ:EVGO)

SCP Investment LP purchased a new position in EVgo, Inc. (NASDAQ:EVGO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,800 shares of the company’s stock, valued at approximately $60,000.

Several other large investors have also added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC purchased a new stake in shares of EVgo in the 4th quarter worth about $72,000. Blueshift Asset Management LLC purchased a new stake in EVgo in the third quarter worth about $80,000. Raymond James Financial Inc. bought a new stake in EVgo during the 4th quarter valued at approximately $80,000. Paloma Partners Management Co purchased a new position in shares of EVgo during the 3rd quarter worth approximately $99,000. Finally, Virtu Financial LLC bought a new position in shares of EVgo in the 4th quarter worth approximately $99,000. Institutional investors own 17.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on EVGO. JPMorgan Chase & Co. lowered their price objective on EVgo from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Stifel Nicolaus lowered their price target on shares of EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. UBS Group cut their price objective on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, EVgo has a consensus rating of “Buy” and an average price target of $6.11.

EVgo Price Performance

EVGO stock opened at $2.82 on Friday. The stock has a market capitalization of $863.83 million, a P/E ratio of -6.71 and a beta of 2.37. EVgo, Inc. has a 1-year low of $1.65 and a 1-year high of $9.07. The business has a fifty day moving average price of $2.91 and a 200-day moving average price of $4.72.

EVgo (NASDAQ:EVGO) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. The business had revenue of $67.51 million during the quarter, compared to the consensus estimate of $69.49 million. As a group, analysts anticipate that EVgo, Inc. will post -0.45 earnings per share for the current year.

Insider Activity

In related news, President Dennis G. Kish sold 44,184 shares of the firm’s 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 sale, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. This trade represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 66.96% of the stock is owned by corporate 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.