Fox Run Management L.L.C. Acquires New Position in EVgo, Inc. (NASDAQ:EVGO)

Fox Run Management L.L.C. bought a new position in EVgo, Inc. (NASDAQ:EVGO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 24,880 shares of the company’s stock, valued at approximately $101,000.

Several other institutional investors and hedge funds have also made changes to their positions in EVGO. Clear Harbor Asset Management LLC purchased a new position in EVgo during the fourth quarter worth approximately $72,000. Blueshift Asset Management LLC acquired a new stake in EVgo during the third quarter worth about $80,000. Raymond James Financial Inc. acquired a new position in EVgo in the 4th quarter valued at about $80,000. Paloma Partners Management Co purchased a new stake in shares of EVgo in the 3rd quarter valued at approximately $99,000. Finally, Virtu Financial LLC acquired a new stake in shares of EVgo during the 4th quarter worth approximately $99,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, President Dennis G. Kish sold 44,184 shares of the company’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 transaction of $150,667.44. Following the sale, the president now directly owns 95,986 shares in the company, valued at approximately $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 66.96% of the stock is owned by company insiders.

EVgo Stock Performance

Shares of EVGO stock 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 company has a 50 day moving average price of $2.91 and a 200 day moving average price of $4.72. The stock has a market capitalization of $863.83 million, a P/E ratio of -6.71 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, research analysts forecast that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on EVGO shares. 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. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. Stifel Nicolaus decreased their target price on shares of EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. UBS Group dropped their price target 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price objective on shares of EVgo in a report on Wednesday, March 5th. Two 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 stock. According to data from MarketBeat.com, EVgo presently has an average rating of “Buy” and an average price target of $6.11.

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.