Two Sigma Investments LP Has $11.02 Million Stock Position in EVgo, Inc. (NASDAQ:EVGO)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EVGO. Mariner LLC acquired a new stake in shares of EVgo in the fourth quarter valued at approximately $48,000. FORA Capital LLC acquired a new position in EVgo in the 4th quarter valued at $56,000. SCP Investment LP bought a new stake in shares of EVgo during the 4th quarter valued at $60,000. Polymer Capital Management US LLC acquired a new stake in shares of EVgo during the 4th quarter worth $73,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of EVgo in the fourth quarter worth $80,000. 17.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Stifel Nicolaus dropped their target price on shares of EVgo from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Roth Capital reiterated a "buy" rating on shares of EVgo in a research report on Wednesday, May 7th. Evercore ISI decreased their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $8.00 target price on shares of EVgo in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $6.25.

Insider Buying and Selling

In other EVgo news, President Dennis G. Kish sold 46,785 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $3.75, for a total value of $175,443.75. Following the completion of the transaction, the president now directly owns 145,484 shares in the company, valued at approximately $545,565. This trade represents a 24.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 58.79% of the stock is currently owned by corporate insiders.

EVgo Price Performance

EVGO stock traded up $0.03 during trading on Wednesday, reaching $3.99. 6,069,440 shares of the company were exchanged, compared to its average volume of 4,436,539. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -9.50 and a beta of 2.27. The company has a 50-day moving average of $3.02 and a two-hundred day moving average of $3.73. EVgo, Inc. has a twelve month low of $1.92 and a twelve month high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02. The company 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 firm posted ($0.09) EPS. The business's quarterly revenue was up 36.4% compared to the same quarter last year. On average, analysts forecast that EVgo, Inc. will post -0.45 EPS for the current 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.