Nuveen LLC Invests $3.83 Million in EVgo Inc. $EVGO

Nuveen LLC purchased a new position in EVgo Inc. (NASDAQ:EVGO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,440,850 shares of the company’s stock, valued at approximately $3,833,000. Nuveen LLC owned approximately 0.47% of EVgo as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of EVgo by 5.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company’s stock worth $351,000 after acquiring an additional 4,597 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of EVgo by 20.1% in the first quarter. Arizona State Retirement System now owns 35,481 shares of the company’s stock worth $94,000 after acquiring an additional 5,945 shares in the last quarter. Paloma Partners Management Co lifted its stake in shares of EVgo by 25.0% in the fourth quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $122,000 after acquiring an additional 5,993 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of EVgo by 49.3% in the fourth quarter. Cetera Investment Advisers now owns 20,888 shares of the company’s stock worth $85,000 after acquiring an additional 6,900 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of EVgo by 14.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,456 shares of the company’s stock worth $257,000 after acquiring an additional 8,144 shares in the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.

Analysts Set New Price Targets

EVGO has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on EVgo from $4.00 to $4.50 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of EVgo in a research note on Thursday, May 8th. Roth Capital restated a “buy” rating on shares of EVgo in a research note on Wednesday, May 7th. Finally, UBS Group upped their price objective on EVgo from $5.00 to $5.40 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $6.24.

EVgo Trading Up 1.3%

Shares of EVgo stock opened at $4.03 on Thursday. The business’s 50 day simple moving average is $3.69 and its 200-day simple moving average is $3.31. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -9.83 and a beta of 2.33. EVgo Inc. has a twelve month low of $2.19 and a twelve month high of $9.07.

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