Voloridge Investment Management LLC acquired a new stake in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,402,969 shares of the company's stock, valued at approximately $5,682,000. Voloridge Investment Management LLC owned 0.46% of EVgo at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EVGO. Millennium Management LLC raised its position in EVgo by 394.4% during the fourth quarter. Millennium Management LLC now owns 4,623,922 shares of the company's stock valued at $18,727,000 after purchasing an additional 3,688,614 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of EVgo by 175.5% in 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 during the period. SIR Capital Management L.P. raised its holdings in shares of EVgo by 326.3% in 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 during the period. Two Sigma Advisers LP raised its holdings in shares of EVgo by 2,533.6% in the fourth quarter. Two Sigma Advisers LP now owns 2,494,000 shares of the company's stock worth $10,101,000 after buying an additional 2,399,300 shares during the period. Finally, Vanguard Group Inc. raised 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 worth $49,414,000 after buying an additional 2,043,449 shares during the period. 17.44% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Evercore ISI dropped their price objective on EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of EVgo in a research report on Thursday, May 8th. Roth Capital reaffirmed a "buy" rating on shares of EVgo in a research report on Wednesday, May 7th. Stifel Nicolaus dropped their target price on EVgo from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $6.25.
Read Our Latest Research Report on EVGO
EVgo Trading Down 0.8%
Shares of EVGO traded down $0.03 during midday trading on Friday, hitting $3.90. 6,736,284 shares of the company's stock traded hands, compared to its average volume of 4,460,022. EVgo, Inc. has a 1 year low of $1.92 and a 1 year high of $9.07. The firm's fifty day moving average is $3.08 and its 200-day moving average is $3.70. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.29 and a beta of 2.27.
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 firm had revenue of $75.29 million during the quarter, compared to analysts' expectations of $70.11 million. The business's revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) EPS. On average, equities research analysts anticipate that EVgo, Inc. will post -0.45 EPS for the current year.
Insider Buying and Selling
In related news, President Dennis G. Kish sold 73,215 shares of the firm's stock in a transaction 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 completion of the transaction, the president now owns 72,269 shares in the company, valued at $266,672.61. This trade represents a 50.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 58.79% of the stock is currently owned by company insiders.
About EVgo
(
Free Report)
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.
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