Millennium Management LLC Boosts Holdings in EVgo, Inc. (NASDAQ:EVGO)

Millennium Management LLC increased its position in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) by 394.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,623,922 shares of the company's stock after acquiring an additional 3,688,614 shares during the period. Millennium Management LLC owned approximately 1.53% of EVgo worth $18,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mariner LLC purchased a new position in EVgo in the 4th quarter worth approximately $48,000. FORA Capital LLC purchased a new stake in shares of EVgo during the fourth quarter worth about $56,000. SCP Investment LP purchased a new stake in shares of EVgo during the fourth quarter worth about $60,000. Clear Harbor Asset Management LLC purchased a new stake in shares of EVgo during the fourth quarter worth about $72,000. Finally, Polymer Capital Management US LLC bought a new position in EVgo in the fourth quarter worth about $73,000. Institutional investors own 17.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Roth Capital reissued a "buy" rating on shares of EVgo in a research note on Wednesday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. UBS Group dropped their price target on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Finally, Evercore ISI dropped their price target on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, EVgo has a consensus rating of "Buy" and an average target price of $6.25.

EVgo Stock Up 4.1%

EVGO stock traded up $0.15 during mid-day trading on Friday, hitting $3.84. The company had a trading volume of 4,945,234 shares, compared to its average volume of 4,427,635. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -9.14 and a beta of 2.27. EVgo, Inc. has a 12-month low of $1.92 and a 12-month high of $9.07. The company has a 50-day moving average price of $2.97 and a 200 day moving average price of $3.78.

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

Insider Activity at EVgo

In other EVgo news, President Dennis G. Kish sold 46,785 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $3.75, for a total value of $175,443.75. Following the completion of the sale, the president now directly owns 145,484 shares of the company's stock, valued at $545,565. The trade was a 24.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 58.79% of the stock is currently owned by insiders.

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.