Sage Investment Advisers LLC Has $110,000 Position in EVgo, Inc. (NYSE:EVGO)

Sage Investment Advisers LLC lessened its stake in EVgo, Inc. (NYSE:EVGO) by 27.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,600 shares of the company’s stock after selling 11,400 shares during the period. Sage Investment Advisers LLC’s holdings in EVgo were worth $110,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EVGO. Headlands Technologies LLC bought a new position in EVgo during the third quarter worth about $32,000. Verdence Capital Advisors LLC acquired a new position in EVgo during the third quarter worth $34,000. Sigma Planning Corp bought a new position in shares of EVgo during the third quarter valued at $36,000. Sippican Capital Advisors acquired a new stake in shares of EVgo in the 4th quarter valued at $43,000. Finally, Principal Financial Group Inc. bought a new stake in shares of EVgo in the 3rd quarter worth about $47,000. 17.44% of the stock is owned by institutional investors and hedge funds.

EVgo Stock Down 2.2 %

EVGO stock traded down $0.04 during trading on Wednesday, hitting $1.75. The company had a trading volume of 2,725,525 shares, compared to its average volume of 2,882,335. The firm has a 50-day moving average price of $2.25 and a 200-day moving average price of $2.61. EVgo, Inc. has a 12 month low of $1.65 and a 12 month high of $6.20. The stock has a market cap of $527.66 million, a price-to-earnings ratio of -3.76 and a beta of 2.53.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $55.16 million during the quarter, compared to the consensus estimate of $52.41 million. During the same quarter last year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was up 118.0% on a year-over-year basis. Equities analysts expect that EVgo, Inc. will post -0.37 EPS for the current year.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EVgo news, President Dennis G. Kish sold 34,717 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $104,151.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Olga Shevorenkova sold 19,363 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $3.00, for a total transaction of $58,089.00. Following the sale, the chief financial officer now owns 81,991 shares of the company’s stock, valued at approximately $245,973. The disclosure for this sale can be found here. Insiders sold 56,230 shares of company stock worth $167,409 in the last quarter. Insiders own 66.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on EVGO. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $5.00 target price on shares of EVgo in a report on Thursday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $4.00 price target on shares of EVgo in a report on Friday, April 5th. Finally, Evercore ISI reduced their price objective on EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.19.

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.