EVgo, Inc. (NYSE:EVGO) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in EVgo, Inc. (NYSE:EVGO) by 17.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,181 shares of the company’s stock after selling 6,126 shares during the period. Raymond James & Associates’ holdings in EVgo were worth $113,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EVGO. Vanguard Group Inc. boosted its holdings in shares of EVgo by 121.6% during the 1st quarter. Vanguard Group Inc. now owns 5,882,535 shares of the company’s stock worth $75,649,000 after purchasing an additional 3,228,340 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of EVgo during the 1st quarter worth approximately $32,188,000. State Street Corp boosted its holdings in shares of EVgo by 98.9% during the 2nd quarter. State Street Corp now owns 1,924,787 shares of the company’s stock worth $11,568,000 after purchasing an additional 957,132 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of EVgo during the 1st quarter worth approximately $9,360,000. Finally, Northern Trust Corp lifted its holdings in EVgo by 374.4% in the second quarter. Northern Trust Corp now owns 581,313 shares of the company’s stock valued at $3,493,000 after acquiring an additional 458,765 shares during the last quarter. 15.19% of the stock is currently owned by institutional investors and hedge funds.

EVgo Stock Up 9.5 %

Shares of NYSE EVGO opened at $2.76 on Tuesday. The firm has a market cap of $825.76 million, a price-to-earnings ratio of -6.73 and a beta of 2.11. EVgo, Inc. has a 52-week low of $1.88 and a 52-week high of $8.16. The business’s 50 day moving average is $3.06 and its two-hundred day moving average is $3.95.

EVgo (NYSE:EVGO) last announced its earnings results on Wednesday, November 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $35.11 million during the quarter, compared to analysts’ expectations of $29.77 million. The firm’s revenue for the quarter was up 234.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) EPS. Analysts anticipate that EVgo, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on EVGO. Royal Bank of Canada began coverage on EVgo in a report on Friday, September 8th. They issued a “sector perform” rating and a $5.00 price objective on the stock. TD Cowen cut EVgo from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $6.00 to $4.00 in a report on Wednesday, October 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.79.

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.