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

Tudor Investment Corp ET AL acquired a new position in EVgo Inc. (NASDAQ:EVGO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,726,307 shares of the company’s stock, valued at approximately $8,165,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EVGO. Ameritas Investment Partners Inc. boosted its position in EVgo by 27.8% during the second quarter. Ameritas Investment Partners Inc. now owns 13,089 shares of the company’s stock worth $48,000 after purchasing an additional 2,847 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of EVgo by 14.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 37,603 shares of the company’s stock worth $179,000 after purchasing an additional 4,732 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of EVgo by 18.6% in the second quarter. The Manufacturers Life Insurance Company now owns 46,791 shares of the company’s stock valued at $171,000 after purchasing an additional 7,331 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of EVgo by 53.2% in the third 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 period. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of EVgo by 42.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 32,495 shares of the company’s stock valued at $119,000 after buying an additional 9,712 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

EVgo Price Performance

EVGO opened at $1.96 on Tuesday. The company has a fifty day moving average price of $2.74 and a 200-day moving average price of $3.37. The firm has a market capitalization of $613.64 million, a P/E ratio of -6.13 and a beta of 2.63. EVgo Inc. has a one year low of $1.89 and a one year high of $5.18.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $118.47 million during the quarter. The business’s quarterly revenue was up 75.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) EPS. On average, analysts expect that EVgo Inc. will post -0.45 earnings per share for the current year.

About EVgo

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.