HBK Investments L P Takes Position in EVgo, Inc. (NASDAQ:EVGO)

HBK Investments L P acquired a new position in shares of EVgo, Inc. (NASDAQ:EVGO - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 250,000 shares of the company's stock, valued at approximately $1,012,000. HBK Investments L P owned about 0.08% of EVgo as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in EVgo by 20.1% during the 4th 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 period. Marshall Wace LLP boosted its position in EVgo by 52.6% during the 4th 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 period. Geode Capital Management LLC boosted its position in EVgo by 0.5% during the 4th 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 period. Pamalican Asset Management Ltd purchased a new stake in EVgo during the 4th quarter worth $5,455,000. Finally, JPMorgan Chase & Co. boosted its position in EVgo by 93.4% during the 4th 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 period. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EVgo

In other news, President Dennis G. Kish sold 44,184 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.41, for a total value of $150,667.44. Following the completion of the sale, the president now owns 95,986 shares in the company, valued at $327,312.26. This represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 58.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EVGO shares. Needham & Company LLC reaffirmed a "hold" rating on shares of EVgo in a research report on Wednesday, March 5th. Cantor Fitzgerald restated an "overweight" rating and set a $8.00 price objective on shares of EVgo in a report on Wednesday, March 5th. UBS Group dropped their price objective on EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Monday, January 27th. 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. Finally, Evercore ISI dropped their price objective on EVgo from $7.00 to $4.00 and set an "outperform" rating on the stock in a report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, EVgo has a consensus rating of "Buy" and an average price target of $5.78.

EVgo Stock Performance

Shares of NASDAQ:EVGO traded down $0.08 on Wednesday, hitting $2.75. The company's stock had a trading volume of 823,716 shares, compared to its average volume of 4,094,089. EVgo, Inc. has a 12 month low of $1.73 and a 12 month high of $9.07. The company has a market capitalization of $842.39 million, a price-to-earnings ratio of -6.55 and a beta of 2.28. The stock's 50-day moving average is $2.62 and its two-hundred day moving average is $4.32.

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, topping the consensus estimate of ($0.15) by $0.04. The business had revenue of $67.51 million during the quarter, compared to the consensus estimate of $69.49 million. Equities analysts expect that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

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.