Point72 Asset Management L.P. bought a new position in EVgo, Inc. (NYSE:EVGO – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor bought 713,707 shares of the company’s stock, valued at approximately $1,749,000.
Several other hedge funds have also recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in shares of EVgo during the second quarter valued at about $495,000. HITE Hedge Asset Management LLC acquired a new position in shares of EVgo during the second quarter valued at about $495,000. Point72 DIFC Ltd acquired a new position in shares of EVgo during the second quarter valued at about $45,000. Marshall Wace LLP increased its holdings in shares of EVgo by 66.4% during the second quarter. Marshall Wace LLP now owns 1,633,304 shares of the company’s stock valued at $4,002,000 after acquiring an additional 651,475 shares in the last quarter. Finally, SIR Capital Management L.P. increased its holdings in shares of EVgo by 76.9% during the second quarter. SIR Capital Management L.P. now owns 958,600 shares of the company’s stock valued at $2,349,000 after acquiring an additional 416,800 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.
Insiders Place Their Bets
In other news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the transaction, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, President Dennis G. Kish sold 16,414 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total transaction of $59,090.40. Following the transaction, the president now owns 47,614 shares in the company, valued at approximately $171,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Francine Sullivan sold 12,584 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $3.60, for a total value of $45,302.40. Following the transaction, the insider now owns 117,327 shares in the company, valued at approximately $422,377.20. The disclosure for this sale can be found here. Insiders own 66.96% of the company’s stock.
Analyst Ratings Changes
View Our Latest Stock Analysis on EVgo
EVgo Trading Up 60.8 %
EVgo stock opened at $6.32 on Friday. EVgo, Inc. has a 12 month low of $1.65 and a 12 month high of $6.49. The stock’s 50 day simple moving average is $4.01 and its two-hundred day simple moving average is $2.91. The firm has a market cap of $1.91 billion, a PE ratio of -16.63 and a beta of 2.58.
EVgo (NYSE:EVGO – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $59.40 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that EVgo, Inc. will post -0.4 EPS for the current year.
EVgo Company 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.
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