UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in EVgo, Inc. (NASDAQ:EVGO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 247,215 shares of the company's stock, valued at approximately $1,001,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.08% of EVgo as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EVGO. Vanguard Group Inc. lifted its stake in EVgo by 20.1% during the fourth 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 last quarter. D. E. Shaw & Co. Inc. raised 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 purchasing an additional 3,153,073 shares in the last quarter. Millennium Management LLC lifted its position in shares of EVgo by 394.4% during the 4th 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 during the last quarter. SIR Capital Management L.P. boosted its holdings in shares of EVgo by 326.3% in the 4th 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 in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of EVgo by 52.6% in the 4th quarter. Marshall Wace LLP now owns 3,429,931 shares of the company's stock valued at $13,891,000 after buying an additional 1,182,431 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company's stock.

Insider Transactions at EVgo

In related news, President Dennis G. Kish sold 46,785 shares of EVgo 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 sale, the president now directly owns 145,484 shares in the company, valued at $545,565. The trade was a 24.33% 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 Stock Performance

EVgo stock traded up $0.14 during mid-day trading on Thursday, reaching $4.42. 1,098,199 shares of the company were exchanged, compared to its average volume of 4,412,319. The firm's 50-day simple moving average is $3.29 and its two-hundred day simple moving average is $3.62. EVgo, Inc. has a twelve month low of $1.95 and a twelve month high of $9.07. The firm has a market cap of $1.36 billion, a PE ratio of -10.52 and a beta of 2.41.

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

Analyst Ratings Changes

Several equities research analysts recently commented on EVGO shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. Stifel Nicolaus dropped their price objective on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. JPMorgan Chase & Co. reissued an "overweight" rating on shares of EVgo in a research report on Thursday, May 8th. Finally, Morgan Stanley set a $4.00 price target on EVgo and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $6.00.

EVgo Company 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.