Boothbay Fund Management LLC Purchases Shares of 508,732 EVgo, Inc. (NASDAQ:EVGO)

Boothbay Fund Management LLC acquired a new stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 508,732 shares of the company's stock, valued at approximately $2,060,000. Boothbay Fund Management LLC owned approximately 0.17% of EVgo at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ghisallo Capital Management LLC purchased a new stake in shares of EVgo in the fourth quarter valued at approximately $5,180,000. HBK Investments L P acquired a new stake in EVgo in the fourth quarter valued at $1,012,000. Price T Rowe Associates Inc. MD boosted its position in shares of EVgo by 5.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company's stock worth $351,000 after purchasing an additional 4,597 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of EVgo by 271.6% during the 4th quarter. Dark Forest Capital Management LP now owns 38,289 shares of the company's stock worth $155,000 after purchasing an additional 27,984 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of EVgo by 677.4% in the 4th quarter. Stifel Financial Corp now owns 457,308 shares of the company's stock valued at $1,852,000 after purchasing an additional 398,481 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company's stock.

Insider Transactions at EVgo

In related news, President Dennis G. Kish sold 44,184 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the transaction, the president now directly owns 95,986 shares in the company, valued at approximately $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 58.79% of the company's stock.

EVgo Stock Performance

EVgo stock traded up $0.04 during midday trading on Friday, reaching $2.85. 2,276,368 shares of the company were exchanged, compared to its average volume of 4,061,891. The firm's 50-day simple moving average is $2.62 and its 200-day simple moving average is $4.21. EVgo, Inc. has a 1 year low of $1.73 and a 1 year high of $9.07. The company has a market capitalization of $873.02 million, a price-to-earnings ratio of -6.79 and a beta of 2.28.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to analysts' expectations of $69.49 million. On average, analysts forecast that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EVGO. Cantor Fitzgerald restated an "overweight" rating and set a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. Stifel Nicolaus dropped their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on EVgo from $6.00 to $5.00 and set an "overweight" rating for the company 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 on the stock in a report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $5.78.

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.