Tudor Investment Corp ET AL Acquires New Shares in EVgo Inc. $EVGO

Key Points

• Tudor Investment Corp acquired 1,726,307 shares of EVgo (~$8.17 million), representing about 0.56% of the company at the end of the quarter.
• EVgo beat expectations in its most recent quarter with EPS of -$0.04 versus -$0.14 and revenue of $118.47 million, up 75.5% year-over-year.
• Analysts maintain a consensus "Moderate Buy" with an average target of $5.58 despite several firms trimming targets, while EVgo trades around $1.85 with a market cap near $579 million.

Tudor Investment Corp ET AL acquired a new stake in EVgo Inc. (NASDAQ:EVGO - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 1,726,307 shares of the company's stock, valued at approximately $8,165,000. Tudor Investment Corp ET AL owned approximately 0.56% of EVgo at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EVGO. Ameriprise Financial Inc. bought a new stake in EVgo in the third quarter worth $49,000. Banco BTG Pactual S.A. bought a new position in shares of EVgo during the second quarter valued at about $41,000. Russell Investments Group Ltd. increased its position in shares of EVgo by 1,095.5% during the third quarter. Russell Investments Group Ltd. now owns 11,154 shares of the company's stock valued at $53,000 after buying an additional 10,221 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of EVgo during the 3rd quarter valued at $55,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in EVgo in the third quarter worth about $65,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EVGO has been the topic of several research reports. Stifel Nicolaus dropped their target price on shares of EVgo from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Cantor Fitzgerald dropped their target price on shares of EVgo from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Wednesday, March 4th. Benchmark restated a "buy" rating on shares of EVgo in a report on Monday, March 2nd. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of EVgo in a research report on Wednesday, March 25th. Finally, Royal Bank Of Canada decreased their price target on shares of EVgo from $7.00 to $4.50 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5.58.

EVgo Trading Up 8.2%

EVGO stock opened at $1.85 on Tuesday. The stock has a market cap of $579.21 million, a PE ratio of -5.78 and a beta of 2.80. EVgo Inc. has a 12 month low of $1.64 and a 12 month high of $5.18. The company has a 50-day moving average price of $2.48 and a 200 day moving average price of $3.20.

EVgo (NASDAQ:EVGO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.10. The business had revenue of $118.47 million during the quarter. During the same period in the previous year, the firm earned ($0.11) earnings per share. The business's revenue for the quarter was up 75.5% on a year-over-year basis. Sell-side analysts forecast that EVgo Inc. will post -0.45 EPS for the current year.

EVgo Profile

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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