Nuveen Asset Management LLC Increases Stock Position in EVgo, Inc. (NASDAQ:EVGO)

Nuveen Asset Management LLC grew its stake in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,629,785 shares of the company's stock after buying an additional 211,820 shares during the quarter. Nuveen Asset Management LLC owned 0.87% of EVgo worth $10,651,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EVGO. Millennium Management LLC grew its holdings in EVgo by 394.4% in the 4th quarter. Millennium Management LLC now owns 4,623,922 shares of the company's stock worth $18,727,000 after acquiring an additional 3,688,614 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings 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 worth $20,046,000 after purchasing an additional 3,153,073 shares in the last quarter. Vanguard Group Inc. lifted its stake in EVgo by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company's stock valued at $49,414,000 after acquiring an additional 2,043,449 shares during the period. BNP Paribas Financial Markets bought a new stake in EVgo in the 4th quarter worth approximately $7,259,000. Finally, Pamalican Asset Management Ltd purchased a new stake in EVgo during the fourth quarter valued at $5,455,000. Hedge funds and other institutional investors own 17.44% of the company's stock.

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 73,215 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $3.69, for a total value of $270,163.35. Following the completion of the sale, the president now owns 72,269 shares of the company's stock, valued at approximately $266,672.61. This trade represents a 50.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 58.79% of the stock is owned by insiders.

EVgo Stock Performance

Shares of EVGO stock traded down $0.03 during trading hours on Friday, reaching $3.90. The company had a trading volume of 6,736,284 shares, compared to its average volume of 4,460,022. The stock has a fifty day moving average of $3.08 and a 200-day moving average of $3.69. EVgo, Inc. has a 12-month low of $1.92 and a 12-month high of $9.07. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.29 and a beta of 2.27.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EVGO shares. Stifel Nicolaus decreased their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC restated a "hold" rating on shares of EVgo in a research note on Wednesday, March 5th. Roth Capital reaffirmed a "buy" rating on shares of EVgo in a report on Wednesday, May 7th. JPMorgan Chase & Co. reissued an "overweight" rating on shares of EVgo in a report on Thursday, May 8th. Finally, Evercore ISI cut their price target on EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $6.25.

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.