Maven Securities LTD Buys New Shares in EVgo, Inc. (NYSE:EVGO)

Maven Securities LTD bought a new stake in EVgo, Inc. (NYSE:EVGO) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 120,000 shares of the company’s stock, valued at approximately $497,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in EVgo by 20.2% in the third quarter. Janus Henderson Group PLC now owns 52,416 shares of the company’s stock valued at $217,000 after purchasing an additional 8,800 shares during the period. HITE Hedge Asset Management LLC boosted its holdings in EVgo by 105.0% in the third quarter. HITE Hedge Asset Management LLC now owns 413,906 shares of the company’s stock valued at $1,714,000 after purchasing an additional 212,004 shares during the period. Centiva Capital LP purchased a new position in EVgo in the third quarter valued at $195,000. Paloma Partners Management Co acquired a new stake in EVgo in the third quarter valued at $99,000. Finally, Firsthand Capital Management Inc. raised its stake in EVgo by 2,403.1% in the third quarter. Firsthand Capital Management Inc. now owns 40,000 shares of the company’s stock valued at $166,000 after buying an additional 38,402 shares in the last quarter. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EVGO has been the topic of a number of analyst reports. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and raised their price target for the company from $5.00 to $7.00 in a research note on Thursday, October 3rd. Needham & Company LLC restated a “hold” rating on shares of EVgo in a research note on Wednesday, November 13th. Stifel Nicolaus raised their price target on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Capital One Financial upgraded EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Finally, UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.00 to $8.50 in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $6.61.

Insider Buying and Selling

In other news, CEO Badar Khan sold 166,725 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.14, for a total value of $856,966.50. Following the completion of the transaction, the chief executive officer now directly owns 348,761 shares in the company, valued at $1,792,631.54. This trade represents a 32.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 66.96% of the stock is owned by company insiders.

EVgo Stock Down 3.9 %

EVGO stock opened at $6.14 on Thursday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -14.74 and a beta of 2.24. The business has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $4.43. EVgo, Inc. has a 52 week low of $1.65 and a 52 week high of $9.07.

EVgo (NYSE:EVGO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $67.50 million for the quarter, compared to the consensus estimate of $66.52 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. EVgo’s revenue was up 92.3% compared to the same quarter last year. As a group, analysts expect that EVgo, Inc. will post -0.41 earnings per share for the current fiscal year.

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.