Capital Fund Management S.A. Sells 105,884 Shares of EVgo, Inc. (NYSE:EVGO)

Posted by Defense World Staff on Jun 5th, 2023

Capital Fund Management S.A. reduced its stake in shares of EVgo, Inc. (NYSE:EVGO – Get Rating) by 69.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,237 shares of the company’s stock after selling 105,884 shares during the period. Capital Fund Management S.A.’s holdings in EVgo were worth $207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Almanack Investment Partners LLC. bought a new position in shares of EVgo in the third quarter worth about $25,000. Ensign Peak Advisors Inc bought a new position in EVgo in the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. acquired a new position in shares of EVgo during the first quarter worth approximately $71,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of EVgo in the second quarter valued at approximately $47,000. Finally, Advisors Asset Management Inc. increased its position in EVgo by 171.3% during the third quarter. Advisors Asset Management Inc. now owns 9,188 shares of the company’s stock worth $73,000 after acquiring an additional 5,801 shares during the period. Institutional investors and hedge funds own 12.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EVGO. Stifel Nicolaus assumed coverage on shares of EVgo in a report on Tuesday, May 16th. They issued a “buy” rating and a $9.00 price target for the company. Bank of America lowered their price target on EVgo from $7.00 to $1.00 in a research note on Friday, May 19th. Northland Securities reduced their price objective on EVgo from $9.00 to $7.00 in a research report on Wednesday, May 24th. Evercore ISI lowered their price objective on EVgo from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, March 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of EVgo in a report on Friday, March 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, EVgo presently has an average rating of “Moderate Buy” and an average price target of $8.28.

Insider Buying and Selling

In other EVgo news, CTO Ivo Steklac sold 20,399 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $3.99, for a total value of $81,392.01. Following the transaction, the chief technology officer now directly owns 83,395 shares in the company, valued at approximately $332,746.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Ivo Steklac sold 20,399 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $3.99, for a total value of $81,392.01. Following the transaction, the chief technology officer now directly owns 83,395 shares in the company, valued at $332,746.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Catherine Zoi sold 60,030 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $3.98, for a total transaction of $238,919.40. Following the completion of the transaction, the chief executive officer now directly owns 163,796 shares in the company, valued at $651,908.08. The disclosure for this sale can be found here. Insiders sold 131,528 shares of company stock worth $523,264 in the last quarter. Insiders own 73.48% of the company’s stock.

EVgo Price Performance

EVgo stock opened at $4.03 on Monday. EVgo, Inc. has a 52 week low of $3.64 and a 52 week high of $12.65. The business’s fifty day moving average is $5.62 and its two-hundred day moving average is $5.66.

EVgo (NYSE:EVGO – Get Rating) last issued its quarterly earnings data on Thursday, March 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $27.30 million for the quarter, compared to the consensus estimate of $20.16 million. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was up 284.5% compared to the same quarter last year. On average, equities analysts expect that EVgo, Inc. will post -0.87 earnings per share for the current fiscal year.

EVgo Company Profile

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EVgo, Inc owns and operates a direct current fast charging network 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.