Soros Fund Management LLC Purchases New Stake in EVgo, Inc. (NASDAQ:EVGO)

Soros Fund Management LLC acquired a new stake in EVgo, Inc. (NASDAQ:EVGO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 565,042 shares of the company's stock, valued at approximately $2,288,000. Soros Fund Management LLC owned about 0.19% of EVgo as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in EVGO. Price T Rowe Associates Inc. MD increased its holdings in shares of EVgo by 5.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company's stock valued at $351,000 after purchasing an additional 4,597 shares during the period. Rhumbline Advisers boosted its holdings in shares of EVgo by 3.2% in the fourth quarter. Rhumbline Advisers now owns 148,541 shares of the company's stock valued at $602,000 after acquiring an additional 4,622 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of EVgo by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company's stock worth $1,210,000 after acquiring an additional 5,377 shares during the period. Paloma Partners Management Co raised its holdings in EVgo by 25.0% during the fourth quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock worth $122,000 after purchasing an additional 5,993 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in EVgo by 29.9% in the fourth quarter. Intech Investment Management LLC now owns 49,462 shares of the company's stock valued at $200,000 after purchasing an additional 11,389 shares during the period. Hedge funds and other institutional investors own 17.44% of the company's stock.

EVgo Price Performance

NASDAQ:EVGO traded down $0.10 on Monday, reaching $2.75. The stock had a trading volume of 1,421,456 shares, compared to its average volume of 4,029,190. The firm's fifty day moving average is $2.62 and its two-hundred day moving average is $4.19. The company has a market cap of $842.39 million, a price-to-earnings ratio of -6.55 and a beta of 2.28. EVgo, Inc. has a 12-month low of $1.73 and a 12-month high of $9.07.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.04. The business had revenue of $67.51 million during the quarter, compared to analyst estimates of $69.49 million. As a group, research analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on EVGO. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.00 price target on shares of EVgo in a research note on Wednesday, March 5th. Evercore ISI reduced their price objective on shares of EVgo from $7.00 to $4.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. UBS Group lowered their target price on shares of EVgo from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of EVgo from $6.00 to $5.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, EVgo presently has an average rating of "Buy" and a consensus target price of $5.78.

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.