EVgo, Inc. (NASDAQ:EVGO) Holdings Raised by Two Sigma Investments LP

Two Sigma Investments LP increased its stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) by 296.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,720,342 shares of the company's stock after acquiring an additional 2,034,045 shares during the period. Two Sigma Investments LP owned approximately 0.90% of EVgo worth $11,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of EVgo by 20.1% in the fourth 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 in the last quarter. D. E. Shaw & Co. Inc. boosted 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 worth $20,046,000 after buying an additional 3,153,073 shares in the last quarter. Millennium Management LLC boosted its holdings in EVgo by 394.4% during the fourth quarter. Millennium Management LLC now owns 4,623,922 shares of the company's stock worth $18,727,000 after buying an additional 3,688,614 shares in the last quarter. SIR Capital Management L.P. boosted its holdings in EVgo by 326.3% during the fourth quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company's stock worth $14,311,000 after buying an additional 2,704,662 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in EVgo by 52.6% during the fourth quarter. Marshall Wace LLP now owns 3,429,931 shares of the company's stock worth $13,891,000 after buying an additional 1,182,431 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other EVgo news, President Dennis G. Kish sold 73,215 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were 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 in the company, valued at $266,672.61. This represents a 50.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 58.79% of the company's stock.

EVgo Stock Performance

Shares of NASDAQ:EVGO traded down $0.01 during mid-day trading on Thursday, hitting $3.98. The stock had a trading volume of 3,708,432 shares, compared to its average volume of 4,446,709. The company has a market cap of $1.22 billion, a PE ratio of -9.48 and a beta of 2.27. EVgo, Inc. has a 12-month low of $1.92 and a 12-month high of $9.07. The company's 50 day moving average is $3.04 and its 200-day moving average is $3.73.

EVgo (NASDAQ:EVGO - Get Free Report) last released 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 analysts' expectations of $70.11 million. During the same quarter in the previous year, the company earned ($0.09) EPS. The firm's quarterly revenue was up 36.4% compared to the same quarter last year. On average, equities research analysts predict that EVgo, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Ratings Changes

EVGO has been the subject of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. JPMorgan Chase & Co. restated an "overweight" rating on shares of EVgo in a report on Thursday, May 8th. Cantor Fitzgerald restated an "overweight" rating and set a $8.00 target price on shares of EVgo in a report on Wednesday, March 5th. Stifel Nicolaus reduced their target price 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. Finally, Evercore ISI reduced their price target on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research report on Monday, March 31st. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $6.25.

EVgo 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.