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Price T Rowe Associates Inc. MD raised its stake in EVgo, Inc. (NASDAQ:EVGO – Free Report) by 5.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 86,588 shares of the company’s stock after buying an additional 4,597 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in EVgo were worth $351,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in EVGO. Vanguard Group Inc. increased its holdings in shares of EVgo by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 12,200,949 shares of the company’s stock valued at $49,414,000 after purchasing an additional 2,043,449 shares during the period. Pamalican Asset Management Ltd acquired a new position in EVgo during the fourth quarter worth about $5,455,000. Marshall Wace LLP grew its holdings in EVgo by 52.6% during the fourth quarter. Marshall Wace LLP now owns 3,429,931 shares of the company’s stock worth $13,891,000 after acquiring an additional 1,182,431 shares during the period. Renaissance Technologies LLC grew its holdings in EVgo by 5,576.8% during the fourth quarter. Renaissance Technologies LLC now owns 669,861 shares of the company’s stock worth $2,713,000 after acquiring an additional 658,061 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new position in EVgo in the 4th quarter worth about $2,619,000. 17.44% of the stock is currently owned by institutional investors.
EVgo Trading Up 11.3%
EVGO opened at $4.05 on Thursday. The stock has a market cap of $1.24 billion, a PE ratio of -9.64 and a beta of 2.27. EVgo, Inc. has a 1 year low of $1.92 and a 1 year high of $9.07. The stock’s 50 day simple moving average is $2.79 and its 200-day simple moving average is $3.98.
EVgo (NASDAQ:EVGO – Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $75.29 million during the quarter, compared to analyst estimates of $70.11 million. EVgo’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS. Equities analysts forecast that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on EVGO. JPMorgan Chase & Co. reissued an “overweight” rating on shares of EVgo in a research note on Thursday, May 8th. Stifel Nicolaus reduced their price target on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, March 6th. UBS Group reduced their target price on EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Evercore ISI reduced their target price on EVgo from $7.00 to $4.00 and set an “outperform” rating for the company in a report on Monday, March 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.00 price target on shares of EVgo in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued 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 $6.25.
Read Our Latest Report on EVGO
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.
See Also
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