Two Sigma Advisers LP Raises Stock Holdings in EVgo, Inc. (NASDAQ:EVGO)

Two Sigma Advisers LP raised its holdings in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 2,533.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,494,000 shares of the company's stock after buying an additional 2,399,300 shares during the period. Two Sigma Advisers LP owned about 0.82% of EVgo worth $10,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of EVgo by 5.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company's stock valued at $351,000 after purchasing an additional 4,597 shares in the last quarter. Rhumbline Advisers lifted its position in shares of EVgo by 3.2% during the fourth quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock valued at $602,000 after purchasing an additional 4,622 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of EVgo by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock valued at $1,210,000 after purchasing an additional 5,377 shares in the last quarter. Paloma Partners Management Co lifted its position in shares of EVgo by 25.0% during the fourth quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock valued at $122,000 after purchasing an additional 5,993 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of EVgo by 49.3% during the fourth quarter. Cetera Investment Advisers now owns 20,888 shares of the company's stock valued at $85,000 after purchasing an additional 6,900 shares in the last quarter. 17.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In related news, President Dennis G. Kish sold 73,215 shares of EVgo stock in a transaction that occurred 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 sale, the president now directly owns 72,269 shares in the company, valued at $266,672.61. The trade was a 50.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 58.79% of the company's stock.

EVgo Trading Up 3.0%

EVgo stock traded up $0.12 during mid-day trading on Wednesday, hitting $4.08. The company had a trading volume of 1,767,185 shares, compared to its average volume of 4,405,491. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.71 and a beta of 2.27. The company's fifty day moving average is $3.02 and its 200-day moving average is $3.73. EVgo, Inc. has a 12-month low of $1.92 and a 12-month high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its 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 company had revenue of $75.29 million during the quarter, compared to analyst estimates of $70.11 million. The firm's revenue was up 36.4% compared to the same quarter last year. During the same period last year, the business earned ($0.09) earnings per share. As a group, sell-side analysts expect that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

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.