Centiva Capital LP Buys 420,259 Shares of EVgo, Inc. (NASDAQ:EVGO)

Centiva Capital LP raised its stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 890.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 467,478 shares of the company's stock after purchasing an additional 420,259 shares during the quarter. Centiva Capital LP owned 0.15% of EVgo worth $1,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of EVgo by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company's stock worth $49,414,000 after buying an additional 2,043,449 shares in the last quarter. JPMorgan Chase & Co. grew its stake in EVgo by 93.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,213,688 shares of the company's stock valued at $4,915,000 after purchasing an additional 586,108 shares during the period. Quantbot Technologies LP purchased a new stake in shares of EVgo during the 4th quarter valued at $523,000. Geode Capital Management LLC raised its stake in shares of EVgo by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,432,183 shares of the company's stock worth $9,853,000 after purchasing an additional 12,320 shares during the period. Finally, Crescent Park Management L.P. purchased a new position in shares of EVgo in the 4th quarter worth about $377,000. Institutional investors own 17.44% of the company's stock.

EVgo Trading Down 0.5%

EVgo stock traded down $0.02 during trading hours on Tuesday, hitting $3.72. 2,135,796 shares of the stock traded hands, compared to its average volume of 4,331,718. EVgo, Inc. has a one year low of $1.92 and a one year high of $9.07. The company has a market cap of $1.14 billion, a PE ratio of -8.86 and a beta of 2.27. The firm's 50-day moving average price is $2.74 and its two-hundred day moving average price is $3.98.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $70.11 million. During the same period in the previous year, the company earned ($0.09) earnings per share. EVgo's revenue for the quarter was up 36.4% on a year-over-year basis. On average, sell-side analysts expect that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EVGO shares. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Roth Capital reaffirmed a "buy" rating on shares of EVgo in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reissued an "overweight" rating on shares of EVgo in a report on Thursday. 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 report on Thursday, March 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $6.25.

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.