Crescent Park Management L.P. Acquires Shares of 93,000 EVgo, Inc. (NASDAQ:EVGO)

Crescent Park Management L.P. bought a new position in shares of EVgo, Inc. (NASDAQ:EVGO) in the 4th quarter, Holdings Channel reports. The institutional investor bought 93,000 shares of the company’s stock, valued at approximately $377,000.

Other large investors have also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of EVgo during the 3rd quarter worth $158,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in EVgo by 9.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,945 shares of the company’s stock worth $509,000 after acquiring an additional 10,532 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of EVgo in the third quarter worth about $653,000. Paloma Partners Management Co acquired a new stake in shares of EVgo in the 3rd quarter valued at approximately $99,000. Finally, Centiva Capital LP bought a new stake in shares of EVgo during the 3rd quarter valued at approximately $195,000. Institutional investors and hedge funds own 17.44% of the company’s stock.

Insider Activity at EVgo

In other news, President Dennis G. Kish sold 17,379 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $4.32, for a total value of $75,077.28. Following the transaction, the president now directly owns 13,655 shares of the company’s stock, valued at $58,989.60. The trade was a 56.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 66.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EVGO shares. Evercore ISI dropped their price objective on shares of EVgo from $7.00 to $4.00 and set an “outperform” rating for the company in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. UBS Group lowered their target price on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Stifel Nicolaus dropped their target price on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $5.78.

EVgo Price Performance

EVgo stock opened at $2.71 on Wednesday. The stock’s 50 day moving average is $2.88 and its 200 day moving average is $4.70. EVgo, Inc. has a one year low of $1.65 and a one year high of $9.07. The firm has a market cap of $830.14 million, a P/E ratio of -6.45 and a beta of 2.37.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping 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. Equities analysts anticipate that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

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.