EVgo, Inc. (NASDAQ:EVGO) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) by 20.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,200,949 shares of the company's stock after acquiring an additional 2,043,449 shares during the period. Vanguard Group Inc. owned about 4.02% of EVgo worth $49,414,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Rhumbline Advisers lifted 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 worth $602,000 after buying an additional 4,622 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in EVgo by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock worth $1,210,000 after acquiring an additional 5,377 shares in the last quarter. Janus Henderson Group PLC increased its position in EVgo by 20.2% during the 3rd quarter. Janus Henderson Group PLC now owns 52,416 shares of the company's stock valued at $217,000 after purchasing an additional 8,800 shares during the period. Intech Investment Management LLC lifted its position in shares of EVgo by 29.9% in the 4th quarter. Intech Investment Management LLC now owns 49,462 shares of the company's stock worth $200,000 after purchasing an additional 11,389 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of EVgo by 70.6% during the fourth quarter. New York State Common Retirement Fund now owns 31,173 shares of the company's stock valued at $126,000 after purchasing an additional 12,900 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company's stock.

EVgo Stock Down 0.8 %

Shares of NASDAQ:EVGO traded down $0.02 during midday trading on Thursday, reaching $2.51. The company's stock had a trading volume of 453,055 shares, compared to its average volume of 4,302,045. EVgo, Inc. has a twelve month low of $1.65 and a twelve month high of $9.07. The firm has a market capitalization of $768.87 million, a PE ratio of -5.98 and a beta of 2.28. The stock has a fifty day moving average of $2.68 and a 200 day moving average of $4.54.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its 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 company had revenue of $67.51 million during the quarter, compared to analysts' expectations of $69.49 million. Sell-side analysts anticipate that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other EVgo news, President Dennis G. Kish sold 44,184 shares of EVgo stock in a transaction on Monday, February 3rd. The shares were 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 owns 95,986 shares of the company's stock, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 66.96% of the company's stock.

Wall Street Analysts Forecast Growth

EVGO has been the topic of several recent research reports. UBS Group dropped their target price on EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of EVgo from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus reduced their price target on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, EVgo has an average rating of "Buy" and a consensus price target of $5.78.

About EVgo

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.