Lazard Asset Management LLC Acquires 307,984 Shares of EVgo Inc. $EVGO

Lazard Asset Management LLC boosted its holdings in shares of EVgo Inc. (NASDAQ:EVGO) by 89.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 652,657 shares of the company’s stock after purchasing an additional 307,984 shares during the quarter. Lazard Asset Management LLC owned about 0.21% of EVgo worth $1,123,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quarry LP grew its stake in shares of EVgo by 145.0% in the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after buying an additional 5,508 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of EVgo during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of EVgo by 4,903.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock valued at $29,000 after buying an additional 9,659 shares in the last quarter. Ameriprise Financial Inc. bought a new position in shares of EVgo in the 3rd quarter valued at about $49,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of EVgo in the 4th quarter valued at about $32,000. Institutional investors own 17.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EVGO shares. Wall Street Zen cut EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Royal Bank Of Canada lowered their price objective on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVgo in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, EVgo currently has an average rating of “Hold” and an average price target of $5.28.

EVgo Price Performance

EVGO stock opened at $1.73 on Wednesday. EVgo Inc. has a 12 month low of $1.41 and a 12 month high of $5.18. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. The company has a 50-day moving average price of $1.87 and a 200 day moving average price of $2.18. The stock has a market cap of $542.98 million, a PE ratio of -4.94 and a beta of 2.82.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $109.53 million for the quarter. During the same quarter last year, the firm earned ($0.09) EPS. The company’s revenue was up 45.4% compared to the same quarter last year. Equities research analysts anticipate that EVgo Inc. will post -0.51 earnings per share for the current year.

EVgo 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.