Krane Funds Advisors LLC Buys Shares of 48,287 EVgo, Inc. (NASDAQ:EVGO)

Krane Funds Advisors LLC bought a new position in EVgo, Inc. (NASDAQ:EVGO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 48,287 shares of the company’s stock, valued at approximately $196,000.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in shares of EVgo by 25.3% during the 3rd quarter. State Street Corp now owns 4,192,828 shares of the company’s stock valued at $17,358,000 after acquiring an additional 847,777 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of EVgo in the 4th quarter worth $523,000. Geode Capital Management LLC boosted its holdings in EVgo by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock valued at $10,020,000 after acquiring an additional 90,887 shares during the last quarter. Crescent Park Management L.P. acquired a new position in EVgo in the fourth quarter valued at $377,000. Finally, Amundi purchased a new position in shares of EVgo in the 4th quarter worth about $113,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

EVgo Price Performance

EVGO opened at $2.57 on Monday. The stock’s 50 day moving average price is $2.85 and its 200 day moving average price is $4.66. The stock has a market cap of $787.25 million, a P/E ratio of -6.12 and a beta of 2.28. EVgo, Inc. has a 12 month low of $1.65 and a 12 month high of $9.07.

EVgo (NASDAQ:EVGO) last issued 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 company had revenue of $67.51 million for the quarter, compared to the consensus estimate of $69.49 million. Equities analysts anticipate that EVgo, Inc. will post -0.45 EPS for the current year.

Insider Transactions at EVgo

In other news, President Dennis G. Kish sold 44,184 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the sale, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. This represents a 31.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 66.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EVGO. Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Stifel Nicolaus decreased their price target on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. UBS Group reduced their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price target on EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $5.78.

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.