Olympiad Research LP Makes New $139,000 Investment in EVgo, Inc. (NYSE:EVGO)

Olympiad Research LP acquired a new position in shares of EVgo, Inc. (NYSE:EVGO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 34,364 shares of the company’s stock, valued at approximately $139,000.

A number of other large investors have also modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in EVgo in the third quarter valued at approximately $51,000. Creative Planning grew its holdings in EVgo by 32.7% during the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after purchasing an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its stake in EVgo by 31.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock worth $60,000 after buying an additional 3,500 shares during the period. Clear Harbor Asset Management LLC purchased a new position in EVgo in the 4th quarter valued at about $72,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of EVgo during the third quarter valued at about $80,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

Insider Buying and Selling at EVgo

In other news, President Dennis G. Kish sold 44,184 shares of the company’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 transaction 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 approximately $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Nanus sold 23,000,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $5.00, for a total value of $115,000,000.00. Following the sale, the director now owns 5,882,352 shares in the company, valued at $29,411,760. The trade was a 79.63 % decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 66.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. cut their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. UBS Group dropped their price objective on EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Stifel Nicolaus increased their target price on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of EVgo in a research note on Thursday, January 16th. Two equities 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, EVgo presently has a consensus rating of “Buy” and a consensus target price of $6.11.

EVgo Price Performance

Shares of EVGO opened at $2.91 on Monday. The stock has a market capitalization of $882.17 million, a PE ratio of -6.93 and a beta of 2.32. The business’s fifty day moving average price is $3.72 and its 200 day moving average price is $4.97. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07.

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.