Polymer Capital Management US LLC Invests $73,000 in EVgo, Inc. (NASDAQ:EVGO)

Polymer Capital Management US LLC acquired a new position in EVgo, Inc. (NASDAQ:EVGO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 17,998 shares of the company’s stock, valued at approximately $73,000.

Several other large investors also recently bought and sold shares of the business. Verition Fund Management LLC bought a new stake in shares of EVgo during the 3rd quarter valued at about $653,000. Centiva Capital LP purchased a new stake in shares of EVgo during the 3rd quarter worth approximately $195,000. Janus Henderson Group PLC increased its position in shares of EVgo by 20.2% during the 3rd quarter. Janus Henderson Group PLC now owns 52,416 shares of the company’s stock valued at $217,000 after purchasing an additional 8,800 shares during the last quarter. State Street Corp increased its position 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 purchasing an additional 847,777 shares during the last quarter. Finally, Barclays PLC grew its position in EVgo by 280.6% in the 3rd quarter. Barclays PLC now owns 132,981 shares of the company’s stock valued at $551,000 after acquiring an additional 98,041 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EVGO. Stifel Nicolaus decreased their price objective on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Evercore ISI dropped their target price on EVgo from $7.00 to $4.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given 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 target price of $5.78.

EVgo Stock Up 7.5 %

EVGO stock opened at $2.59 on Thursday. The business has a fifty day moving average of $2.75 and a two-hundred day moving average of $4.60. The stock has a market cap of $793.38 million, a price-to-earnings ratio of -6.17 and a beta of 2.28. EVgo, Inc. has a 52-week low of $1.65 and a 52-week 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 firm had revenue of $67.51 million during the quarter, compared to analyst estimates of $69.49 million. As a group, sell-side analysts anticipate that EVgo, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 44,184 shares of EVgo stock in a transaction dated 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 directly owns 95,986 shares of the company’s stock, valued at $327,312.26. The trade was a 31.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 66.96% of the stock is currently owned by insiders.

About EVgo

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.