BNP Paribas Financial Markets Takes Position in EVgo, Inc. (NASDAQ:EVGO)

BNP Paribas Financial Markets bought a new stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,792,438 shares of the company's stock, valued at approximately $7,259,000. BNP Paribas Financial Markets owned approximately 0.59% of EVgo at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in EVgo by 5.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company's stock valued at $351,000 after buying an additional 4,597 shares in the last quarter. Rhumbline Advisers grew its position in shares of EVgo by 3.2% in the fourth quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock valued at $602,000 after purchasing an additional 4,622 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of EVgo by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock valued at $1,210,000 after purchasing an additional 5,377 shares during the last quarter. Paloma Partners Management Co grew its position in shares of EVgo by 25.0% in the fourth quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock valued at $122,000 after purchasing an additional 5,993 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in shares of EVgo by 29.9% in the fourth quarter. Intech Investment Management LLC now owns 49,462 shares of the company's stock valued at $200,000 after purchasing an additional 11,389 shares during the last quarter. 17.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on EVGO. Stifel Nicolaus lowered their price target on shares of EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Roth Capital reiterated a "buy" rating on shares of EVgo in a research report on Wednesday, May 7th. Evercore ISI lowered their price target on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. Finally, UBS Group lowered their price target on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $6.25.

EVgo Stock Performance

NASDAQ EVGO traded down $0.12 during mid-day trading on Friday, reaching $3.85. 4,969,387 shares of the stock were exchanged, compared to its average volume of 4,435,221. The stock has a market capitalization of $1.18 billion, a PE ratio of -9.17 and a beta of 2.27. The business's fifty day simple moving average is $2.85 and its 200 day simple moving average is $3.86. EVgo, Inc. has a 1-year low of $1.92 and a 1-year high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The company had revenue of $75.29 million during the quarter, compared to analyst estimates of $70.11 million. The firm's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) EPS. On average, analysts anticipate that EVgo, Inc. will post -0.45 EPS for the current 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.