Tudor Investment Corp ET AL Takes $8.17 Million Position in EVgo Inc. $EVGO

Tudor Investment Corp ET AL purchased a new position in shares of EVgo Inc. (NASDAQ:EVGO) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,726,307 shares of the company’s stock, valued at approximately $8,165,000. Tudor Investment Corp ET AL owned 0.56% of EVgo as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in shares of EVgo in the 3rd quarter worth $65,000. Dark Forest Capital Management LP bought a new stake in shares of EVgo during the third quarter worth about $55,000. PharVision Advisers LLC acquired a new stake in shares of EVgo in the 3rd quarter worth about $95,000. Mercer Global Advisors Inc. ADV boosted its stake in EVgo by 53.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 22,359 shares of the company’s stock valued at $106,000 after purchasing an additional 7,763 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of EVgo by 45.3% in the third quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock worth $26,302,000 after purchasing an additional 1,734,958 shares during the last quarter. Institutional investors own 17.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada dropped their price target on shares of EVgo from $7.00 to $4.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EVgo in a report on Thursday, January 22nd. Cantor Fitzgerald decreased their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Stifel Nicolaus dropped their price target on EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Finally, Benchmark reissued a “buy” rating on shares of EVgo in a research report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.32.

EVgo Stock Up 1.0%

EVGO opened at $1.96 on Tuesday. EVgo Inc. has a twelve month low of $1.89 and a twelve month high of $5.18. The company’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $3.37. The stock has a market cap of $613.64 million, a price-to-earnings ratio of -6.13 and a beta of 2.63.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. The company had revenue of $118.47 million for the quarter. The firm’s revenue was up 75.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS. As a group, sell-side analysts anticipate that EVgo Inc. will post -0.45 earnings per share for the current year.

EVgo Company Profile

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.