EVgo, Inc. (NYSE:EVGO) Position Boosted by Point72 DIFC Ltd

Point72 DIFC Ltd increased its holdings in EVgo, Inc. (NYSE:EVGO) by 188.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,965 shares of the company’s stock after buying an additional 34,584 shares during the quarter. Point72 DIFC Ltd’s holdings in EVgo were worth $219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Creative Planning grew its holdings in EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after buying an additional 3,297 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its position in EVgo by 31.8% in the third quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock worth $60,000 after purchasing an additional 3,500 shares during the period. Price T Rowe Associates Inc. MD lifted its position in EVgo by 11.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,392 shares of the company’s stock worth $160,000 after purchasing an additional 6,633 shares during the period. SG Americas Securities LLC lifted its position in EVgo by 47.0% in the second quarter. SG Americas Securities LLC now owns 24,049 shares of the company’s stock worth $59,000 after purchasing an additional 7,687 shares during the period. Finally, Janus Henderson Group PLC lifted its position in EVgo by 20.2% in the third quarter. Janus Henderson Group PLC now owns 52,416 shares of the company’s stock worth $217,000 after purchasing an additional 8,800 shares during the period. 17.44% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Badar Khan sold 166,725 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the transaction, the chief executive officer now directly owns 348,761 shares of the company’s stock, valued at approximately $1,792,631.54. This represents a 32.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 66.96% of the company’s stock.

EVgo Stock Up 1.4 %

EVGO opened at $6.37 on Friday. The stock has a fifty day moving average of $6.73 and a 200-day moving average of $4.48. The firm has a market capitalization of $1.93 billion, a P/E ratio of -15.17 and a beta of 2.24. EVgo, Inc. has a 12-month low of $1.65 and a 12-month high of $9.07.

EVgo (NYSE:EVGO) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $67.50 million during the quarter, compared to the consensus estimate of $66.52 million. The firm’s quarterly revenue was up 92.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS. On average, analysts expect that EVgo, Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EVGO shares. UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price objective on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $6.61.

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.