Graham Capital Management L.P. Has $1.50 Million Stake in EVgo Inc. $EVGO

Key Points

• Graham Capital Management L.P. increased its stake in EVgo by 455.9% during Q1, owning 565,574 shares valued at $1.50 million.
• EVgo's stock opened at $3.84 and has a market capitalization of $1.18 billion, having seen a 47.1% increase in revenue year-over-year.
• Several institutional investors have significantly increased their holdings in EVgo, notably D. E. Shaw & Co. and Millennium Management with 175.5% and 394.4% increases, respectively.

Graham Capital Management L.P. raised its stake in shares of EVgo Inc. (NASDAQ:EVGO - Free Report) by 455.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 565,574 shares of the company's stock after buying an additional 463,826 shares during the period. Graham Capital Management L.P. owned about 0.18% of EVgo worth $1,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. J. Goldman & Co LP lifted its stake in shares of EVgo by 59.9% in the 4th quarter. J. Goldman & Co LP now owns 2,221,877 shares of the company's stock valued at $8,999,000 after purchasing an additional 832,397 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of EVgo by 175.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company's stock valued at $20,046,000 after purchasing an additional 3,153,073 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of EVgo in the 4th quarter valued at $7,259,000. Fortress Investment Group LLC bought a new position in EVgo in the 4th quarter worth $405,000. Finally, California State Teachers Retirement System lifted its position in EVgo by 1,198.5% during the 4th quarter. California State Teachers Retirement System now owns 94,761 shares of the company's stock worth $384,000 after acquiring an additional 87,463 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company's stock.

EVgo Trading Down 2.3%

NASDAQ EVGO traded down $0.09 on Monday, reaching $3.84. The company's stock had a trading volume of 812,254 shares, compared to its average volume of 4,401,911. The firm has a market cap of $1.18 billion, a PE ratio of -9.37 and a beta of 2.33. EVgo Inc. has a 52 week low of $2.19 and a 52 week high of $9.07. The business has a 50-day moving average price of $3.69 and a 200 day moving average price of $3.36.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The firm had revenue of $98.03 million for the quarter, compared to the consensus estimate of $86.15 million. EVgo's quarterly revenue was up 47.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) earnings per share. EVgo has set its FY 2025 guidance at EPS. Analysts anticipate that EVgo Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EVGO. Morgan Stanley boosted their target price on shares of EVgo from $4.00 to $4.50 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. UBS Group boosted their price objective on shares of EVgo from $5.00 to $5.40 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $6.24.

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.