Two Sigma Investments LP Grows Stock Position in EVgo, Inc. (NASDAQ:EVGO)

Two Sigma Investments LP grew its holdings in shares of EVgo, Inc. (NASDAQ:EVGO) by 296.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,720,342 shares of the company’s stock after acquiring an additional 2,034,045 shares during the period. Two Sigma Investments LP’s holdings in EVgo were worth $11,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in EVGO. Mariner LLC purchased a new position in shares of EVgo during the 4th quarter valued at $48,000. FORA Capital LLC purchased a new position in EVgo during the fourth quarter worth $56,000. SCP Investment LP purchased a new position in EVgo during the fourth quarter worth $60,000. Polymer Capital Management US LLC bought a new stake in EVgo in the fourth quarter worth about $73,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in EVgo in the fourth quarter worth $80,000. 17.44% of the stock is currently owned by institutional investors.

EVgo Trading Up 4.1%

Shares of NASDAQ:EVGO opened at $3.84 on Friday. EVgo, Inc. has a twelve month low of $1.92 and a twelve month high of $9.07. The company’s 50 day moving average is $2.97 and its 200 day moving average is $3.78. The company has a market cap of $1.18 billion, a PE ratio of -9.14 and a beta of 2.27.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $75.29 million during the quarter, compared to analysts’ expectations of $70.11 million. During the same period in the previous year, the company posted ($0.09) earnings per share. EVgo’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities research analysts predict that EVgo, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at EVgo

In other EVgo news, President Dennis G. Kish sold 46,785 shares of EVgo stock in a transaction on Monday, May 19th. The shares were sold at an average price of $3.75, for a total value of $175,443.75. Following the completion of the transaction, the president now owns 145,484 shares of the company’s stock, valued at approximately $545,565. The trade was a 24.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 58.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EVGO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. restated an “overweight” rating on shares of EVgo in a research note on Thursday, May 8th. Roth Capital reiterated a “buy” rating on shares of EVgo in a report on Wednesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 price objective on shares of EVgo in a research note on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research note on Wednesday, March 5th. Finally, UBS Group lowered their target price on shares of EVgo from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $6.25.

EVgo 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.