Pictet Asset Management Holding SA Acquires 996,815 Shares of EVgo Inc. $EVGO

Key Points

• Pictet Asset Management Holding SA increased its EVgo stake by 78.1%, acquiring 996,815 shares to own 2,273,200 shares (about 0.74% of the company) valued at roughly $6.6 million per its latest 13F.
• EVgo reported quarterly revenue of $118.47 million, up 75.5% year‑over‑year, and beat EPS estimates with a ($0.04) loss versus ($0.14) expected, though analysts still forecast a full‑year EPS of -0.45.
• Analyst consensus is a Moderate Buy (six Buys, three Holds, one Sell) with an average price target of $5.58, while the stock trades near $2.17 with a market cap of about $679 million and a 52‑week range of $1.64–$5.18.

Pictet Asset Management Holding SA grew its holdings in EVgo Inc. (NASDAQ:EVGO - Free Report) by 78.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,273,200 shares of the company's stock after acquiring an additional 996,815 shares during the period. Pictet Asset Management Holding SA owned 0.74% of EVgo worth $6,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EVGO. Banco BTG Pactual S.A. purchased a new stake in shares of EVgo in the second quarter worth $41,000. SG Americas Securities LLC purchased a new stake in shares of EVgo in the fourth quarter worth $47,000. Ameriprise Financial Inc. purchased a new stake in shares of EVgo in the third quarter worth $49,000. Russell Investments Group Ltd. increased its stake in shares of EVgo by 1,095.5% in the third quarter. Russell Investments Group Ltd. now owns 11,154 shares of the company's stock worth $53,000 after purchasing an additional 10,221 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of EVgo in the second quarter worth $55,000. 17.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EVGO has been the subject of a number of analyst reports. Cantor Fitzgerald reduced their price objective on shares of EVgo from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Wednesday, March 4th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of EVgo in a research note on Wednesday, March 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of EVgo in a research note on Thursday, January 22nd. Benchmark reissued a "buy" rating on shares of EVgo in a research note on Monday, March 2nd. Finally, Stifel Nicolaus reduced their price objective on shares of EVgo from $7.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.58.

EVgo Stock Performance

EVGO opened at $2.17 on Monday. The stock has a market capitalization of $679.39 million, a price-to-earnings ratio of -6.78 and a beta of 2.83. The company has a fifty day moving average of $2.14 and a 200 day moving average of $2.87. EVgo Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $5.18.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $118.47 million for the quarter. The business's quarterly revenue was up 75.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share. On average, equities research analysts forecast that EVgo Inc. will post -0.45 earnings per share for the current year.

About EVgo

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.

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