EVgo, Inc. (NASDAQ:EVGO) Shares Bought by Man Group plc

Man Group plc raised its stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 169.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 422,144 shares of the company's stock after acquiring an additional 265,368 shares during the period. Man Group plc owned approximately 0.14% of EVgo worth $1,710,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of EVGO. Mariner LLC purchased a new stake in shares of EVgo during the 4th quarter valued at about $48,000. FORA Capital LLC purchased a new stake in shares of EVgo during the 4th quarter valued at about $56,000. SCP Investment LP purchased a new stake in shares of EVgo during the 4th quarter valued at about $60,000. Polymer Capital Management US LLC purchased a new stake in shares of EVgo during the 4th quarter valued at about $73,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of EVgo during the 4th quarter valued at about $80,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Dennis G. Kish sold 46,785 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $3.75, for a total value of $175,443.75. Following the transaction, the president now owns 145,484 shares in the company, valued at $545,565. This trade represents a 24.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 58.79% of the company's stock.

Analyst Upgrades and Downgrades

EVGO has been the topic of several research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. Stifel Nicolaus lowered their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Evercore ISI decreased their target price on EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Finally, Roth Capital reaffirmed a "buy" rating on shares of EVgo in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $6.25.

EVgo Trading Down 0.3%

Shares of EVGO stock traded down $0.01 during mid-day trading on Thursday, reaching $3.98. The stock had a trading volume of 3,533,907 shares, compared to its average volume of 4,444,797. The business's fifty day moving average is $3.04 and its 200-day moving average is $3.73. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -9.48 and a beta of 2.27. EVgo, Inc. has a 1-year low of $1.92 and a 1-year high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02. The business had revenue of $75.29 million for the quarter, compared to analysts' expectations of $70.11 million. The business's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) EPS. On average, analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current 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.