Barclays PLC Raises Holdings in EVgo, Inc. (NASDAQ:EVGO)

Barclays PLC grew its position in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) by 138.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 316,538 shares of the company's stock after acquiring an additional 183,557 shares during the quarter. Barclays PLC owned about 0.10% of EVgo worth $1,282,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Tidal Investments LLC raised its holdings in EVgo by 714.2% in the third quarter. Tidal Investments LLC now owns 94,541 shares of the company's stock valued at $391,000 after buying an additional 82,929 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in shares of EVgo in the fourth quarter worth $72,000. Rhumbline Advisers raised its stake in shares of EVgo by 3.2% in the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock valued at $602,000 after acquiring an additional 4,622 shares during the period. New York State Common Retirement Fund boosted its position in EVgo by 70.6% during the 4th quarter. New York State Common Retirement Fund now owns 31,173 shares of the company's stock worth $126,000 after purchasing an additional 12,900 shares during the period. Finally, Hussman Strategic Advisors Inc. acquired a new stake in EVgo in the 4th quarter valued at $425,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on EVGO shares. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $8.00 price target on shares of EVgo in a report on Wednesday, March 5th. Evercore ISI dropped their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus decreased their target price on shares of EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of EVgo from $6.00 to $5.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $5.78.

EVgo Stock Performance

EVGO opened at $2.85 on Monday. The company has a market capitalization of $873.02 million, a P/E ratio of -6.79 and a beta of 2.28. The company has a 50-day moving average of $2.62 and a 200-day moving average of $4.19. EVgo, Inc. has a 1-year low of $1.73 and a 1-year high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. The firm had revenue of $67.51 million during the quarter, compared to the consensus estimate of $69.49 million. As a group, sell-side analysts expect 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.

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