Legal & General Group Plc Acquires 94,905 Shares of EVgo, Inc. (NASDAQ:EVGO)

Legal & General Group Plc lifted its stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 1,081.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,681 shares of the company's stock after acquiring an additional 94,905 shares during the quarter. Legal & General Group Plc's holdings in EVgo were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SCP Investment LP purchased a new stake in shares of EVgo during the 4th quarter worth about $60,000. Clear Harbor Asset Management LLC bought a new position in shares of EVgo during the 4th quarter valued at $72,000. Polymer Capital Management US LLC acquired a new stake in shares of EVgo in the 4th quarter valued at $73,000. Raymond James Financial Inc. bought a new stake in EVgo in the fourth quarter worth $80,000. Finally, Virtu Financial LLC acquired a new position in EVgo during the fourth quarter worth $99,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EVGO has been the subject of several research analyst reports. Evercore ISI cut their price objective on EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research report on Monday, March 31st. Cantor Fitzgerald restated an "overweight" rating and issued a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. UBS Group cut their price objective on EVgo from $8.00 to $5.00 and set a "buy" rating for the company in a report on Monday, January 27th. Finally, Stifel Nicolaus cut their price target on shares of EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, March 6th. 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's stock. According to data from MarketBeat, EVgo currently has an average rating of "Buy" and an average price target of $5.78.

EVgo Trading Down 5.6 %

EVgo stock traded down $0.16 during mid-day trading on Monday, hitting $2.69. The stock had a trading volume of 529,438 shares, compared to its average volume of 4,016,640. The stock has a market capitalization of $824.01 million, a PE ratio of -6.40 and a beta of 2.28. EVgo, Inc. has a 12 month low of $1.73 and a 12 month high of $9.07. The stock has a 50-day simple moving average of $2.62 and a two-hundred day simple moving average of $4.19.

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