Ghisallo Capital Management LLC acquired a new stake in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,279,019 shares of the company's stock, valued at approximately $5,180,000. Ghisallo Capital Management LLC owned 0.42% of EVgo as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in EVGO. Vanguard Group Inc. lifted its stake in shares of EVgo by 20.1% in the 4th 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 during the last quarter. Marshall Wace LLP grew its holdings in shares of EVgo by 52.6% in the fourth quarter. Marshall Wace LLP now owns 3,429,931 shares of the company's stock worth $13,891,000 after purchasing an additional 1,182,431 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of EVgo by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,432,183 shares of the company's stock worth $9,853,000 after purchasing an additional 12,320 shares during the last quarter. Pamalican Asset Management Ltd bought a new position in shares of EVgo in the fourth quarter worth approximately $5,455,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of EVgo by 93.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,213,688 shares of the company's stock worth $4,915,000 after purchasing an additional 586,108 shares during the last quarter. Institutional investors own 17.44% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on EVGO shares. Evercore ISI cut their target price on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a report on Monday, March 31st. Cantor Fitzgerald restated an "overweight" rating and issued a $8.00 target price on shares of EVgo in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on shares of EVgo from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. Needham & Company LLC reiterated a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. Finally, UBS Group cut their price target on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $5.78.
Check Out Our Latest Stock Analysis on EVgo
Insider Buying and Selling at EVgo
In other EVgo news, President Dennis G. Kish sold 44,184 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the sale, the president now directly owns 95,986 shares in the company, valued at $327,312.26. The trade was a 31.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 58.79% of the company's stock.
EVgo Trading Up 1.8 %
NASDAQ:EVGO traded up $0.05 during mid-day trading on Thursday, reaching $2.81. The company's stock had a trading volume of 1,185,815 shares, compared to its average volume of 4,068,954. EVgo, Inc. has a 12-month low of $1.73 and a 12-month high of $9.07. The firm's fifty day moving average price is $2.61 and its two-hundred day moving average price is $4.31. The stock has a market cap of $860.77 million, a P/E ratio of -6.69 and a beta of 2.28.
EVgo (NASDAQ:EVGO - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to the consensus estimate of $69.49 million. Analysts predict that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.
EVgo Company Profile
(
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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