Point72 DIFC Ltd Invests $45,000 in EVgo, Inc. (NYSE:EVGO)

Point72 DIFC Ltd purchased a new position in shares of EVgo, Inc. (NYSE:EVGO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 18,381 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of EVgo by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 9,698,722 shares of the company’s stock worth $24,344,000 after buying an additional 37,168 shares in the last quarter. Wellington Management Group LLP grew its position in EVgo by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 3,675,314 shares of the company’s stock worth $13,158,000 after acquiring an additional 951,272 shares during the last quarter. Voisard Asset Management Group Inc. bought a new stake in EVgo during the 4th quarter worth $29,000. Bleakley Financial Group LLC bought a new stake in EVgo during the 1st quarter worth $36,000. Finally, Tidal Investments LLC grew its position in EVgo by 32.2% during the 1st quarter. Tidal Investments LLC now owns 317,945 shares of the company’s stock worth $798,000 after acquiring an additional 77,354 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research report on Thursday, August 29th. Benchmark upped their price target on EVgo from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of EVgo in a research report on Monday, September 23rd. Finally, Stifel Nicolaus reduced their price target on EVgo from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.63.

Insider Buying and Selling

In related news, President Dennis G. Kish sold 16,414 shares of the company’s 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 directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, President Dennis G. Kish sold 16,414 shares of the company’s 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 directly owns 47,614 shares of the company’s stock, valued at approximately $171,410.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Francine Sullivan sold 12,584 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.60, for a total value of $45,302.40. Following the transaction, the insider now directly owns 117,327 shares in the company, valued at $422,377.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,475 shares of company stock valued at $110,189. 66.96% of the stock is owned by company insiders.

EVgo Price Performance

Shares of EVgo stock opened at $4.19 on Monday. EVgo, Inc. has a one year low of $1.65 and a one year high of $4.80. The stock’s 50-day moving average is $3.99 and its 200 day moving average is $2.89. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -11.03 and a beta of 2.59.

EVgo (NYSE:EVGO) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $66.62 million for the quarter, compared to the consensus estimate of $59.40 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, sell-side analysts expect that EVgo, Inc. will post -0.4 EPS for the current fiscal 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.