Caisse DE Depot ET Placement DU Quebec Makes New Investment in EVgo, Inc. (NASDAQ:EVGO)

Caisse DE Depot ET Placement DU Quebec purchased a new position in EVgo, Inc. (NASDAQ:EVGO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 394,793 shares of the company's stock, valued at approximately $1,599,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.13% of EVgo as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of EVgo by 280.6% in the 3rd quarter. Barclays PLC now owns 132,981 shares of the company's stock worth $551,000 after acquiring an additional 98,041 shares during the period. Tidal Investments LLC boosted its stake in EVgo by 714.2% in the 3rd quarter. Tidal Investments LLC now owns 94,541 shares of the company's stock worth $391,000 after purchasing 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 increased its holdings 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 purchasing an additional 4,622 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of EVgo by 70.6% during the 4th quarter. New York State Common Retirement Fund now owns 31,173 shares of the company's stock valued at $126,000 after buying an additional 12,900 shares during the period. 17.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Roth Capital restated a "buy" rating on shares of EVgo in a report on Wednesday. Stifel Nicolaus reduced their target price on EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Evercore ISI cut their price target on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a report on Monday, March 31st. Cantor Fitzgerald reissued an "overweight" rating and set a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. Finally, UBS Group lowered their target price on shares of EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, EVgo has an average rating of "Buy" and an average price target of $5.78.

EVgo Stock Performance

EVGO traded up $0.17 during trading hours on Thursday, reaching $3.84. The company's stock had a trading volume of 6,049,086 shares, compared to its average volume of 4,338,457. The firm has a market cap of $1.18 billion, a PE ratio of -9.14 and a beta of 2.27. The company's 50-day moving average is $2.66 and its 200-day moving average is $4.14. EVgo, Inc. has a 52 week low of $1.78 and a 52 week high of $9.07.

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

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.