Invesco Ltd. Increases Stake in EVgo Inc. $EVGO

Invesco Ltd. raised its stake in shares of EVgo Inc. (NASDAQ:EVGO) by 39.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,826,705 shares of the company’s stock after acquiring an additional 516,382 shares during the period. Invesco Ltd. owned approximately 0.60% of EVgo worth $4,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. grew its holdings in EVgo by 175.5% during 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 buying an additional 3,153,073 shares in the last quarter. Millennium Management LLC lifted its position in shares of EVgo by 394.4% during the fourth quarter. Millennium Management LLC now owns 4,623,922 shares of the company’s stock worth $18,727,000 after purchasing an additional 3,688,614 shares during the last quarter. SIR Capital Management L.P. raised its holdings in shares of EVgo by 326.3% in the fourth quarter. SIR Capital Management L.P. now owns 3,533,645 shares of the company’s stock valued at $14,311,000 after acquiring an additional 2,704,662 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of EVgo by 296.4% in the fourth quarter. Two Sigma Investments LP now owns 2,720,342 shares of the company’s stock valued at $11,017,000 after acquiring an additional 2,034,045 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of EVgo by 8.8% in the fourth quarter. Nuveen Asset Management LLC now owns 2,629,785 shares of the company’s stock valued at $10,651,000 after acquiring an additional 211,820 shares in the last quarter. 17.44% of the stock is owned by hedge funds and other institutional investors.

EVgo Stock Performance

Shares of NASDAQ EVGO opened at $4.03 on Thursday. EVgo Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $9.07. The firm has a market capitalization of $1.24 billion, a PE ratio of -9.83 and a beta of 2.33. The stock’s 50-day simple moving average is $3.69 and its 200-day simple moving average is $3.31.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. The firm had revenue of $98.03 million for the quarter, compared to analyst estimates of $86.15 million. The company’s quarterly revenue was up 47.1% on a year-over-year basis. During the same period last year, the firm earned ($0.10) EPS. EVgo has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that EVgo Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EVGO shares. Morgan Stanley lifted their target price on EVgo from $4.00 to $4.50 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. UBS Group upped their target price on EVgo from $5.00 to $5.40 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of EVgo in a research note on Thursday, May 8th. Finally, Roth Capital reaffirmed a “buy” rating on shares of EVgo in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, EVgo currently has a consensus rating of “Buy” and a consensus price target of $6.24.

About EVgo

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.