121,783 Shares in EVgo Inc. (NASDAQ:EVGO) Bought by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in shares of EVgo Inc. (NASDAQ:EVGO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 121,783 shares of the company's stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EVGO. Millennium Management LLC raised its stake in shares of EVgo by 394.4% in the fourth 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. grew its holdings in EVgo by 175.5% during the fourth 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 period. SIR Capital Management L.P. boosted its holdings in shares of EVgo by 326.3% in the fourth quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company's stock valued at $14,311,000 after buying an additional 2,704,662 shares during the period. Two Sigma Advisers LP raised its holdings in shares of EVgo by 2,533.6% during the fourth quarter. Two Sigma Advisers LP now owns 2,494,000 shares of the company's stock worth $10,101,000 after acquiring an additional 2,399,300 shares during the period. Finally, Vanguard Group Inc. boosted its stake in EVgo by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company's stock worth $49,414,000 after purchasing an additional 2,043,449 shares during the period. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EVgo

In other EVgo news, President Dennis G. Kish sold 46,785 shares of the business'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 directly owns 145,484 shares of the company's stock, valued at approximately $545,565. The trade was a 24.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 58.79% of the stock is currently owned by company insiders.

EVgo Stock Up 4.5%

Shares of NASDAQ EVGO traded up $0.17 during midday trading on Thursday, reaching $3.94. 4,898,712 shares of the company were exchanged, compared to its average volume of 4,533,072. The stock's 50-day moving average price is $3.61 and its 200-day moving average price is $3.47. The stock has a market cap of $1.21 billion, a P/E ratio of -9.61 and a beta of 2.41. EVgo Inc. has a one year low of $2.19 and a one year high of $9.07.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on EVGO shares. Evercore ISI reduced their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of EVgo in a report on Thursday, May 8th. Finally, Roth Capital reissued a "buy" rating on shares of EVgo in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $6.00.

About EVgo

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.