Prescott Group Capital Management L.L.C. Takes Position in EVgo, Inc. (NASDAQ:EVGO)

Prescott Group Capital Management L.L.C. acquired a new position in shares of EVgo, Inc. (NASDAQ:EVGO) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 144,306 shares of the company’s stock, valued at approximately $584,000.

Several other large investors have also made changes to their positions in EVGO. State Street Corp increased its stake in EVgo by 25.3% during the third quarter. State Street Corp now owns 4,192,828 shares of the company’s stock worth $17,358,000 after acquiring an additional 847,777 shares during the last quarter. Geode Capital Management LLC increased its position in EVgo by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after purchasing an additional 90,887 shares in the last quarter. HITE Hedge Asset Management LLC increased its position in EVgo by 105.0% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock worth $1,714,000 after purchasing an additional 212,004 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in EVgo by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company’s stock valued at $1,210,000 after buying an additional 5,377 shares during the period. Finally, Verition Fund Management LLC acquired a new position in EVgo during the third quarter valued at approximately $653,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EVGO. Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 target price on shares of EVgo in a research note on Wednesday. Stifel Nicolaus cut their price objective on EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group decreased their target price on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.22.

Insider Transactions at EVgo

In related news, President Dennis G. Kish sold 17,379 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $4.32, for a total transaction of $75,077.28. Following the sale, the president now directly owns 13,655 shares of the company’s stock, valued at approximately $58,989.60. This represents a 56.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Nanus sold 23,000,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total value of $115,000,000.00. Following the transaction, the director now owns 5,882,352 shares in the company, valued at $29,411,760. This trade represents a 79.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,061,563 shares of company stock valued at $115,225,745. Insiders own 66.96% of the company’s stock.

EVgo Trading Down 2.0 %

EVgo stock opened at $2.51 on Friday. EVgo, Inc. has a 52 week low of $1.65 and a 52 week high of $9.07. The stock has a market cap of $760.91 million, a P/E ratio of -5.98 and a beta of 2.32. The stock has a 50 day moving average of $3.36 and a 200-day moving average of $4.88.

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