Alyeska Investment Group L.P. Acquires New Holdings in EVgo, Inc. (NASDAQ:EVGO)

Alyeska Investment Group L.P. acquired a new stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,000,000 shares of the company's stock, valued at approximately $4,050,000. Alyeska Investment Group L.P. owned about 0.33% of EVgo as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in EVgo by 5.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company's stock valued at $351,000 after acquiring an additional 4,597 shares during the last quarter. Rhumbline Advisers boosted its position in shares of EVgo by 3.2% during the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock valued at $602,000 after purchasing an additional 4,622 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in EVgo by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock worth $1,210,000 after purchasing an additional 5,377 shares during the period. Paloma Partners Management Co increased its holdings in EVgo by 25.0% in the fourth quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock worth $122,000 after purchasing an additional 5,993 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in 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 buying an additional 11,389 shares during the period. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EVGO. Needham & Company LLC reiterated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. UBS Group reduced their target price on EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of EVgo in a research note on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.00 price objective on shares of EVgo in a research note on Wednesday, March 5th. Finally, Roth Capital reaffirmed a "buy" rating on shares of EVgo in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $6.25.

EVgo Stock Performance

NASDAQ:EVGO traded down $0.17 during trading on Friday, reaching $3.66. The company's stock had a trading volume of 5,720,901 shares, compared to its average volume of 4,354,259. EVgo, Inc. has a 12 month low of $1.80 and a 12 month high of $9.07. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -8.71 and a beta of 2.27. The firm has a 50 day moving average of $2.71 and a 200-day moving average of $4.05.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02. The company had revenue of $75.29 million for the quarter, compared to analysts' expectations of $70.11 million. During the same quarter last year, the business posted ($0.09) EPS. The business's quarterly revenue was up 36.4% on a year-over-year basis. Equities research analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

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.