Deutsche Bank AG Sells 28,542 Shares of EVgo Inc. $EVGO

Deutsche Bank AG trimmed its position in EVgo Inc. (NASDAQ:EVGO) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,378 shares of the company’s stock after selling 28,542 shares during the period. Deutsche Bank AG owned 0.06% of EVgo worth $490,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its holdings in EVgo by 175.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,949,622 shares of the company’s stock valued at $20,046,000 after purchasing an additional 3,153,073 shares during the period. Millennium Management LLC boosted its holdings in EVgo by 394.4% in the 4th quarter. Millennium Management LLC now owns 4,623,922 shares of the company’s stock valued at $18,727,000 after purchasing an additional 3,688,614 shares during the period. SIR Capital Management L.P. boosted its holdings in EVgo by 326.3% in the 4th quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company’s stock valued at $14,311,000 after purchasing an additional 2,704,662 shares during the period. Two Sigma Investments LP boosted its holdings in EVgo by 296.4% in the 4th quarter. Two Sigma Investments LP now owns 2,720,342 shares of the company’s stock valued at $11,017,000 after purchasing an additional 2,034,045 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in EVgo by 8.8% in the 4th quarter. Nuveen Asset Management LLC now owns 2,629,785 shares of the company’s stock valued at $10,651,000 after purchasing an additional 211,820 shares during the period. 17.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

EVGO has been the subject of several analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating on shares of EVgo in a report on Thursday, May 8th. Roth Capital reaffirmed a “buy” rating on shares of EVgo in a report on Wednesday, May 7th. UBS Group lifted their price objective on shares of EVgo from $5.00 to $5.40 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Morgan Stanley lifted their price objective on shares of EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, EVgo has an average rating of “Buy” and an average target price of $6.24.

EVgo Stock Up 1.3%

Shares of NASDAQ:EVGO opened at $4.03 on Thursday. The stock has a market cap of $1.24 billion, a PE ratio of -9.83 and a beta of 2.33. The company’s fifty day moving average is $3.69 and its 200 day moving average is $3.31. EVgo Inc. has a 52 week low of $2.19 and a 52 week high of $9.07.

EVgo (NASDAQ:EVGO) last issued its earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $98.03 million during the quarter, compared to analysts’ expectations of $86.15 million. EVgo’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS. EVgo has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that EVgo Inc. will post -0.45 EPS for the current 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.