Hussman Strategic Advisors Inc. Takes Position in EVgo, Inc. (NYSE:EVGO)

Hussman Strategic Advisors Inc. acquired a new stake in shares of EVgo, Inc. (NYSE:EVGO) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 105,000 shares of the company’s stock, valued at approximately $425,000.

Several other institutional investors have also recently modified their holdings of the company. 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. Geode Capital Management LLC grew its position in EVgo by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,419,863 shares of the company’s stock worth $10,020,000 after acquiring an additional 90,887 shares during the last quarter. HITE Hedge Asset Management LLC grew its position in EVgo by 105.0% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock worth $1,714,000 after acquiring an additional 212,004 shares during the last quarter. Verition Fund Management LLC bought a new position in EVgo during the 3rd quarter worth approximately $653,000. Finally, Rhumbline Advisers grew its position in EVgo by 3.2% during the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company’s stock worth $602,000 after acquiring an additional 4,622 shares during the last quarter. 17.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group reduced their price target on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Stifel Nicolaus raised their price target on EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Thursday, January 16th. Two equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $6.11.

Insider Activity

In other EVgo news, President Dennis G. Kish sold 44,184 shares of EVgo 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 transaction, the president now owns 95,986 shares in the company, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Nanus sold 23,000,000 shares of EVgo stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total value of $115,000,000.00. Following the transaction, the director now owns 5,882,352 shares of the company’s stock, valued at $29,411,760. The trade was a 79.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,061,563 shares of company stock worth $115,225,745 in the last quarter. 66.96% of the stock is owned by company insiders.

EVgo Stock Performance

NYSE EVGO opened at $3.05 on Friday. EVgo, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $9.07. The stock has a 50 day simple moving average of $3.78 and a two-hundred day simple moving average of $4.96. The stock has a market cap of $924.61 million, a P/E ratio of -7.26 and a beta of 2.32.

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.