ExodusPoint Capital Management LP Invests $1.52 Million in EVgo, Inc. (NASDAQ:EVGO)

ExodusPoint Capital Management LP purchased a new position in shares of EVgo, Inc. (NASDAQ:EVGO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 376,004 shares of the company’s stock, valued at approximately $1,523,000. ExodusPoint Capital Management LP owned approximately 0.12% of EVgo at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SCP Investment LP purchased a new stake in shares of EVgo during the fourth quarter worth about $60,000. Clear Harbor Asset Management LLC acquired a new stake in shares of EVgo in the fourth quarter worth approximately $72,000. Raymond James Financial Inc. acquired a new stake in shares of EVgo in the fourth quarter worth approximately $80,000. Virtu Financial LLC acquired a new stake in shares of EVgo in the fourth quarter worth approximately $99,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of EVgo in the fourth quarter worth approximately $101,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Dennis G. Kish sold 44,184 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $3.41, for a total transaction of $150,667.44. Following the completion of the transaction, the president now owns 95,986 shares of the company’s stock, valued at approximately $327,312.26. The trade was a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 66.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EVGO shares. Stifel Nicolaus decreased their target price on shares of EVgo from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. UBS Group decreased their target price on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on shares of EVgo from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $5.78.

EVgo Stock Up 7.5 %

EVGO opened at $2.59 on Thursday. The firm has a market capitalization of $793.38 million, a P/E ratio of -6.17 and a beta of 2.28. The firm’s 50 day moving average is $2.75 and its 200-day moving average is $4.60. EVgo, Inc. has a 52-week low of $1.65 and a 52-week high of $9.07.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.51 million for the quarter, compared to analysts’ expectations of $69.49 million. Equities analysts expect that EVgo, Inc. will post -0.45 earnings per share 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.