Krane Funds Advisors LLC Invests $196,000 in EVgo, Inc. (NASDAQ:EVGO)

Krane Funds Advisors LLC acquired a new stake in EVgo, Inc. (NASDAQ:EVGO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 48,287 shares of the company’s stock, valued at approximately $196,000.

Other large investors have also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new stake in shares of EVgo during the fourth quarter worth $60,000. Clear Harbor Asset Management LLC purchased a new stake in shares of EVgo in the 4th quarter valued at approximately $72,000. Polymer Capital Management US LLC purchased a new stake in shares of EVgo during the 4th quarter worth $73,000. Raymond James Financial Inc. acquired a new position in shares of EVgo during the fourth quarter worth $80,000. Finally, Paloma Partners Management Co acquired a new stake in EVgo in the third quarter valued at $99,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

EVgo Stock Performance

Shares of EVGO opened at $2.57 on Monday. The stock has a market capitalization of $787.25 million, a P/E ratio of -6.12 and a beta of 2.28. EVgo, Inc. has a 1 year low of $1.65 and a 1 year high of $9.07. The company’s fifty day moving average is $2.85 and its two-hundred day moving average is $4.66.

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

Analysts Set New Price Targets

EVGO has been the subject of several analyst reports. UBS Group lowered their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Evercore ISI lowered their price target on EVgo from $7.00 to $4.00 and set an “outperform” rating for the company in a report on Monday, March 31st. JPMorgan Chase & Co. dropped their price target on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price objective on shares of EVgo in a research report on Wednesday, March 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $5.78.

Insider Activity at EVgo

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 stock was sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the transaction, the president now directly owns 95,986 shares of the company’s stock, valued at $327,312.26. This trade represents a 31.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 66.96% of the company’s stock.

EVgo Company 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.